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UK investment banks use unregulated instant messaging, research warns

UK-based investment banks could be putting themselves and investors at risk by allowing staff to use unregulated Instant Messaging (IM) networks to exchange information, according to a survey from Vanson Bourne Research. The survey, which questioned the IT departments in 50 leading UK corporate and investment banks, revealed that around half of companies admit that use of IM networks are widespread within their organisations and that important transactions are being made via free IM networks such as AOL, MSN and Yahoo. According to the survey, which was commissioned by messaging specialist FaceTime Communications, nearly half of companies are certain that employees are using IM. One in 10 companies does not know for sure because IM is available for free. Despite the fact that 60% of institutions admit that traders and brokers are the main users of IM, two out of the top three IM networks used are public ones such as MSN and Yahoo. Full Story

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