There are currently several guidelines and laws relevant to the recording of calls. Firstly, under the Data Protection Act you must let your employees and customers know that you are recording calls and why – ie ‘for training and monitoring purposes’.
Some calls must be recorded:
The Financial Conduct Authority (FCA) regulates firms and financial advisers so that markets and financial systems remain sound, stable and resilient, thereby inhibiting abuse and promoting confidence in the sector. Since March 2009 the FAC has determined that certain types of business must record some calls in particular
1) Calls that conclude an agreement with any client or with another regulated firm on behalf of a client; or
2) Calls that are conducted with a professional client or eligible counterparty with a view to concluding an agreement.
These calls must be recorded and stored securely so that they may not be tampered with (this also complies with EU law) They must also be made ‘easily accessible’ for minimum of six months. These rules apply to firms whose products include qualifying investments (shares, bonds, options and futures) that are traded on a prescribed market, or other types of investments that are related to these. The rules do not apply to other financial services (financial advisor, insurance and mortgage brokers, solicitors, estate agents and firms receiving and executing loans. However, these firms may well be advised to use call recording.
Calls that must not be recorded:
Payment Card Industry Data Security Standard (PCI DSS). PCI DSS does not just affect certain financial services, but is concerned with any business that handles card payment. Its purpose is to minimise the risk of fraud etc. through the best practice handling of card details. For our purposes here, that means that if your company uses call recording software, that software must ensure that the card validation codes and values in particular (the actual payment details needed to transfer money) are not accessible following authorisation and preferably not stored on a system.
The PCI DSS website states: ‘It is a violation of PCI DSS requirement 3.2 to store any sensitive authentication data, including card validation codes and values, after authorisation even if encrypted. It is therefore prohibited to use any form of digital audio recording for storing VAV2, BVB2, CCV2 CID codes if that data can be queried. Where technology exists to help prevent the recording of dese data elements, such technology should be enabled’.
For companies who record calls and take payments over the phone, this is a major compliance issue. Any call recording software must offer features that allow the required parts of the calls to be hidden or omitted.
Please note: this is a guide only and Clear Telecom cannot accept responsibility for any omission or error.
Frequently asked Questions
Why this product/service?
Some calls must be recorded and some must not. You need to know the law. Clear Telecom can help.
The Financial Conduct Authority (FCA) regulates firms and advisers, to ensure fair service.
Calls can be recorded so long as it is stated for what purpose they are being recorded.
You cannot record calls where card payments are being made. We can advise you on the processes applicable to your business.
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In this competitive world it makes sense to record your calls to ensure that your hard-won orders are captured precisely. Misheard instructions or incorrect delivery information will result in wasted time, effort, money and perhaps even damage a reputation you have spent years building.
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It makes good sense to monitor and coach your employees in order to improve their performance on the phone. By using well handled, positive, recorded calls as examples of the standards you require you can watch morale grow, your customers’ experience improve and the company prosper.
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Buying on lease has many advantages and the lease option we use means that you end up owning the equipment at the end of the term. Lease to buy means that you can hold on to your capital and use it for growing your business.