Note to self: Think before you press 'send'

Note to self: Think before you press 'send'
Increasingly, e-mail blunders are coming back to bite financial advisers and the firms they work for
APR 07, 2011
By  Bloomberg
Everyone has probably heard of at least one e-mail-related scandal, but somehow the forward button still gets a workout, even by financial and health care professionals, who arguably should know better. That is the implication of a survey of 170 such professionals conducted last month by VaporStream, a software provider. A surprising percentage of employees confessed to all sorts of e-mail violations, including regulatory breaches, while fewer than half understood their company's policy regarding archiving or monitoring e-mail. Just under 25%of the professionals admitted to sending information via e-mail that was in violation of regulatory compliance, typically referring to financial services or health care-related regulations. That incidence shot up to about 74% of employees from organizations with more than 100 employees. Nearly 50% of respondents said they had used their work e-mail to send or receive private and confidential information unrelated to their job. If you've ever accidentally hit the ‘reply all' button, you're not alone — 60% admitted they have done that too. Nearly 10% said they had accidentally leaked private and confidential business information via e-mail. Around 20% said that an e-mail they sent in the past has come back to bite them, either by being brought up, referenced or circulated around the office. “We have gotten so used to using e-mail as a productivity tool, we forget the inherent security shortfalls in an e-mail,” said Jack Hembrough, chief executive of VaporStream. “We don't think about it when we press ‘send.'” Maybe the questionable e-mail activity would lessen if employees knew they were being watched. Almost 47% of respondents answered “no” or “unsure” when asked if their company monitors or archives e-mail. Mr. Hembrough said he didn't know the exact percentage of companies that monitor or archive e-mail, but noted that every company he has worked with does so.

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