The Corona Virus Disease 2019 is a catastrophic outbreak that took millions of lives and shortened essential supplies of each infected country. This virus has become the reason of why the economies of the core, semi-peripheral, and peripheral republics are also decreasing – to which only made the crisis worsen in their state.
As a result, affected nations did all aspects of strategic preparation to rise again from the big fall of 2020. First and foremost, those companies who are temporarily closed due to the implemented mass lockdown. These enterprises are the biggest contribution to a state’s economy. That is why these establishments need to continue their workforces.
Thanks to the subsidy of both the Internet and technology, work pursuits are manageable, unlike the old times. Through the interconnected networks using standardized communication protocols and applications, plus the software available to do work done online, operations can persist amidst the pandemic.
However, of course, when there is an advantage, there is always an affiliated disadvantage.
People who like to get-rich-quick by deceiving their fellowmen with false hope about offers of money. These individuals are called scammers or fraudsters. Deceivers such as this are like writers of fictional stories. They create convincing and seemingly legitimate promotions and the get-rich-quick start of business – most particularly to those who are eager to earn money because of personal financial issues. Once these scammers get a grip on you, they will continue to mislead you, making more promises and uttering flowery words that will surely hypnotize you.
In line with this, the authorities initiated mandatory compliance for financial institutions to monitor text messages, record phone calls, and archive any conversations made in a messaging application. This approach has been a grand help in the progression of avoiding or being ahead of these frauds.
Nevertheless, these scammers are not the only thing you need to look out for. The Securities and Exchange Commission’s Office (SEC) of Compliance Inspections and Examinations (OCIE) released a Risk Alert that both warns and guides investment advisors and broker-dealers of the circumstances brought by COVID-19 related risks.
TeleMessage has created and designed an infographic regarding the SEC’s Latest Risk Alert in compliance issues to consider amidst the pandemic.