Financial Communication Risk: Moving Past the Email Dependency

The Trouble with Email

As a financial adviser, you rely on email every day. It’s fast, but it’s the #1 source of data risk for your business.

The threat is real: 92% of all hacking attacks start with a phishing email.

The danger is doubled by mistakes. Simple errors—like sending a message to the wrong client or forgetting the Bcc field—are responsible for nearly one-third of all security incidents reported in the UK.

Laurent Guyot, CEO of Qwil Messenger, highlights the harsh reality: "For smaller organisations, the impact of a data breach can be devastating. It can lead to lost trust, reputational damage, or even regulatory scrutiny that threatens the future of the business."

When firms try to fix this with encrypted/secure email or client portals or password protecting documents, they often hit a major wall: client frustration.

The Friction Problem:

Encrypted emails and secure portals demand clients remember new passwords, navigate complex logins, and often reset credentials. This friction directly causes clients to abandon the secure process.

• A major consumer authentication study by Transmit Security found that 92% of users will abandon a website or task rather than go through the steps to recover or reset a forgotten password.
• This means that when a client is asked to log into your portal but hits a password barrier, they are highly likely to stop the transaction entirely or, worse, reply to your staff using their regular, unsecured email, bypassing the security you put in place.

Mr. Guyot stresses simplicity: "The best security in the world is useless if users find it too complicated and revert to unsecured channels... A secure platform needs to be as easy to use for the financial adviser as it is for the client."

The Rules You Must Follow

Regulators demand secure client communications. Your existing email process likely falls short.

Recommendations: Manual vs. Automated Security

Manual Safety Steps (If You Must Use Email)

If you still rely on email, you must perform these checks every time:

• Confirm Every Send: Triple-check the recipient's name and the attachment before hitting send.
• Always Encrypt: Use an extra secure step (encryption mail, password protect documents, or portal) for any sensitive file or data.
• Verify Unusual Requests: If a client requests a money transfer or bank detail change, call the person back on a known number to confirm—never reply via email.
• Lock Down Accounts: Set up strong passwords and Multi-Factor Authentication (MFA) on your email.
• Log conversations: Upload emails to platform for record keeping

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The Secure Platform Advantage (Qwil Messenger)

Secure messaging removes the need for manual checks by building security into the chat itself.

Quick Summary

1. Email is the Primary Risk: 92% of all cyberattacks begin with a single email.
2. Clients Hate Friction: Secure portals fail because 92% of users will abandon a task rather than reset a password (Transmit Security study).
3. Compliance Requires Control: Regulations demand permanent, tamper-proof records that email doesn't provide.
4. Simplicity is Key to Security: Secure messaging is as easy as personal chat, or plain email, solving the adoption problem that encrypted email creates.
5. Achieve Audit-Ready Status: The platform is ISO 27001 certified and automatically records everything for compliance purposes.