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Text messages are too hot to handle for many financial companies, according to the “Electronic Communications Compliance Survey Report” by communication archiving provider Smarsh.

Indeed, 77 percent of the 300 information technology and compliance leaders and practitioners in North America that Smarsh contacted for the survey said text messaging was their greatest compliance risk.

The heightened risk stems from leveraging review platforms that weren’t designed for text messages, said Smarsh information governance senior director Robert Cruz. He added, “Now you have communications sprinkled with more emojis and nontext characters. They can be significant and convey sentiment.”

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