The first major global bank of Standard Chartered Plc has warned workers not to use Zoom Video Communications Inc during the pandemic of corona virus due to cyber security concerns according to a memo seen by Reuters.
The message, sent to managers last week by Chief Executive Bill Winters, also cautioned against using Google Hangouts platform from Alphabet Inc for virtual gatherings.
Neither service offers the communication level encryption that will rival including Teams of Microsoft Corp or Blue Jeans Network Inc do, Webex of Cisco System Inc, industry experts said.
A Standard Chartered spokeswoman declined to comment on the memo’s Reuters query. She said that workers can use several approved audio and video conferencing devices that cyber security remains a top priority.
The London bank is the latest organization to separate itself from Zoom after interlopers have revealed security vulnerabilities by breaking into video chats of strangers in the nude. The hurling of racial slurs at participants and inserting obscene images into the presentations.
These “Zoombombing” shocked all sorts of users, teachers, families, and friends, as hoards of business people flocked to the site to remain linked while isolating during the COVID 19 pandemic.
In March Zoom had about 200 million users using its network every day, up from last year’s 10 million.
Banks have specific concerns regarding safety because of legislation that can penalize them, even if unintentionally, for exposing customer details.
Standard chartered workers use Blue Jeans often, said two staff members who were not allowed to comment on the matter.
The bank joins others in imposing constraints on the Zoom, ranging from Elon Musk’s SpaceX to the public education system in New York City and governments in Taiwan and Germany.
In a statement, Zoom has said several global customers which are including financial companies, telecommunications companies, universities, and government agencies conducted their technology’s “exhaustive security reviews” and preferred it as a service.
Zoom, created and led by former Cisco boss Eric Yuan, was filmed last week by former Facebook Inc Security Chief Alex Stamos as a security and privacy advisor to quench the perceived vulnerabilities of the global backlash.