Compliance recording refers to the process of documenting and preserving various forms of communication like phone calls, virtual meetings, and financial transactions in a way that ensures adherence to specific compliance requirements.
In many cases, practicing compliance recording is a matter of the law, but it’s not the only reason why you should do it. Having detailed records enables companies to respond effectively to audits and investigations. It provides clear evidence of past communications and transactions, aiding in transparency.
The good news is that compliance recording is easier than ever. 93% of compliance professionals agree that modern technologies, such as AI and cloud software, have simplified the compliance process.
|“As a company, it is always our goal to provide the highest level of service and product expertise and support to our customers. We believe Recording Insights for Microsoft Teams will enable us to meet those objectives.” Mike Schoenberger, CEO, Sunco Communication & Installation
Recording Insights for Microsoft Teams is a tool presented by ASC Technologies to help you achieve this goal through technology. So, to introduce you to the tool, this article will begin by introducing you to the practice of compliance recording.
We’ll explore important compliance standards that Recording Insights for Microsoft Teams can help you uphold and how ASC Technologies can make it happen.
What You Need to Know About Call Recording Compliance
Call recording laws and regulations vary from country-to-country and between compliance standards. What you need to follow depends on who and what you are recording more so than where your business is located.
For instance, if you’re located in Canada, you will need to adhere to American recording compliance standards if your recording is of someone from the United States. Here are some compliance regulations and data protection acts you must comply with if you are recording calls.
MiFID II (Markets in Financial Instruments Directive II)
MiFID II is a European Union standard that sets stringent standards for recording any calls related to financial transactions. Specifically, it dictates that businesses must record and store all such calls for a minimum of 5 years. This period can be extended to 7 years if requested by a competent national authority.
MiFID II’s recording requirements are a part of broader efforts to protect consumers in the financial market. It holds financial service providers accountable for their advice and decisions. These recordings can also be reviewed if there’s any dispute or suspicion of fraud.
HIPAA (Health Insurance Portability and Accountability Act)
In the United States, HIPAA requires the protection of health-related information. For recorded calls, this means securely storing any call containing patient information and limiting access to the recording to authorized personnel only.
The Dodd-Frank Act is an American compliance standard that requires the recording of all telephonic communications related to commodities trading. This is to prevent fraud and promote transparency in financial dealings.
PCI-DSS (Payment Card Industry Data Security Standard)
PCI-DSS is a global standard for all businesses that handle credit card transactions. It prohibits the recording of credit card authentication data during virtual meetings and phone calls.
FDCPA (Fair Debt Collection Practices Act)
FDCPA regulates the timing and manner of communication, including call recordings, for all debt collectors in the US. It aims to protect consumers from abusive practices in debt collection. Therefore, callers must obtain consent from the person being spoken to in most states based on this standard.
PIPEDA (Personal Information Protection and Electronic Documents Act)
PIPEDA regulates how businesses handle personal information in Canada. Key requirements include obtaining consent before recording calls where personal information is discussed, informing individuals about the purpose of the recording, ensuring the protection of recorded data, and allowing individuals access to their recorded information.
Please note that Alberta, British Columbia, and Quebec have separate recording compliance legislation.
|Discover More About Maintaining Secure Communications
How ASC Technologies Helps You Uphold Compliance With The Recording of Calls
Compliance Recording in Teams
ASC Technologies provides a native cloud service for recording Microsoft Teams calls. This solution ensures all communications are captured in a way that aligns with varying regulatory requirements (including all of the above).
Utilizing advanced AI and analytics, ASC not only records calls, it analyzes the content. This feature helps identify important compliance aspects within communications. For instance, it may be able to detect a PCI-DSS violation if it finds credit card authentication data in a recording.
Managing Risk & Preventing Fraud
ASC Technologies enhances risk management and fraud prevention in communications. It automatically records and analyzes Microsoft Teams calls and enables the detection of suspicious activities within these calls.
ASC’s compliance recording solution is designed to integrate smoothly with existing IT infrastructure. This eases the process of adopting and implementing the service within your existing setup.
Customizable Recording Options
The service allows for customization in recording settings. This helps you cater your compliance recording systems to specific regulatory bodies, regional laws, and organizational policies.
Accessible & Secure Storage
Recorded calls are stored securely and are easily accessible for review and audits. This is important to many different compliance standards and simply enhances your overall data security.
Get Started With Recording Insights
There are legal implications to maintaining compliance. However, following many compliance standards is also simply a good practice for your organization’s information security. Often, the biggest barrier to compliance recording is the complexity of implementing and upholding it.
ASC Technologies and Sunco Communication & Installation can remove that barrier for your Microsoft Teams recordings.
Recording Insights for Microsoft Teams is an innovative compliance recording tool that you can easily integrate into your communications infrastructure. Using cutting-edge analytics, we can ensure that your communications comply with legal standards while managing risks effectively.
Reach out to us today to bring compliance to your Teams call recordings.