Simon English: BlackBerry's the call for insiders and looters
Thursday 15 December 2011
Outlook Last month a new rule from the Financial Services Authority came into place that has all traders' mobile phone calls tapped (landlines have been for ages).
This was another attempt by the FSA to clamp down on insider trading. Rogue traders found this harrowingly inconvenient, as they had to buy another mobile from which to make insider-trading related phone calls.
The preferred medium for swapping info you'd rather the watchdogs didn't know about, I'm told by the lads with four mobiles each, is the BlackBerry BBM instant messaging system, because it is harder to trace than calls or emails.
That's how this summer's, erm, rogue shoppers also chose to communicate.
Insider traders and looters. BlackBerry must be well proud.
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