In 2019, there are at least 167,795 people who got victimized by scammers. This quantity involves any scams that a deceiver could think of. The estimated amount loss from the swindled individuals reached to $142,895,772. 11.8% are the ones who have financial losses. 

These fraudulent people scavenge throughout the world to double-cross those who only wanted to earn money to sustain the needs and wants of their family. To these defrauders, it is the easiest way of gaining much more than what they are expecting. The only trouble they encounter is insisting on a potential consumer to purchase and try not to get caught after robbing them of their innocence and the cash they worked hard for.

To avoid such occurrences, remember that there is no such thing as a promotion that can be purchased at an affordable price. This strategy is mostly done by these deceitful individuals to catch the attention of hopeless individuals who needed money to pay bills and withstand their privations.

Authorities have also instigated a legislative regulation to secure an investor’s money and cleanse the reputation of the firm – especially those enterprises that offer financial support or help to latent consumers. The Markets in Financial Instruments Directive is a European regulation that upsurges the lucidity across the European Union’s financial markets. This law handles the call monitoring and secure SMS messaging of every negotiation made within the company between their customers. This regulation has been a normal requirement for each corporation ever since the MiFID II compliance has been established by the higher-ups.

When the COVID-19 pandemic began to spread worldwide, numerous casualties happened. The quantity of positive and death rates caused by the virus is continuously increasing; on the other hand, the economy of each country affected is decreasing.

This incident is still happening up until the current time. That’s why several companies are having a hard time complying with the acquiescence of monitoring phone calls, SMS, and any conversations made between a consumer and the financial firm from a messaging application solution.

TeleMessage created and designed an infographic with all the detailed information regarding the tips for effective communications monitoring during a pandemic: