Compulsory phone tapping

From March 2009 it will be obligatory for many companies in the financial services industry to record their phone calls.

This is to detect and deter any inappropriate behavior and market abuse, raise standards, but more importantly these recordings will provide evidential proof of conversations often required by insurance and financial professionals.

These changes in the FSA guidelines will mean hedge fund managers, stockbrokers, dealers, traders and insurance brokers will all have to record their calls. 

The Medical Protection Society is also recommending that health service professionals start recording their calls. Audio transcripts prove what medical advice was given, preventing costly disputes and litigation.

If your business is going to be affected by these changes you will need to ensure that your offices are equipped with the correct call recording solution by March 1^st 2009. Liberty Bell Voice and Data offer a variety of call recording devices. Managing Director Warren Bone comments, “We can provide a very cost effective single recording unit (on a per handset basis) to a more sophisticated multi line recording device which blanket records all incoming and outgoing traffic.”

Warren explains that call recording can be easy to integrate and the cost has dropped significantly in recent years,  “Historically it’s been out of reach for many smaller business’ both financially and in terms of the technology involved, but now a lot of people are pleasantly surprised at how affordable and easy it is to implement. Dependant on the size of the solution and the integration needed, it can take anything from a few working days, to up to six weeks for solutions that need to be built and modified away from site.” With March 1^st just over eleven weeks away it’s time to start planning.

For more information go to, www.lbvd.co.uk.