<p>J.P. Morgan is planning a ban on traders' instant messaging, a sign of the worsening headache that banks face around controlling staff communication.</p><p>As traders use myriad communication methods, keeping track of what is said and enforcing proper policy is proving a serious challenge for IT and risk chiefs.</p><p>Industry experts tell Forbes that a simple ban on trader instant messages is often the easiest solution for banks. Others say a ban on mobile communication, a common loophole, is also needed, but that determined individuals will always find a way around the controls.</p><p>Recent scandals saw traders from various institutions allegedly colluding in instant message rooms and elsewhere to fix the Libor interbank lending rate and foreign exchange rates. Libor underpins over $350 trillion in derivatives, and $5 trillion in currencies are traded daily on the global Forex markets.</p><p><a href="http://www.forbes.com/sites/leoking/2013/12/17/jp-morgan-deutsche-bank-instant-messaging-headache-gets-worse/">Keep reading...</a></p><p>Read also:</p><p><a href="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10519394/JP-Morgan-to-ban-staff-from-instant-messaging-services.html">JP Morgan to ban staff from instant messaging services</a> (Telegraph.co.uk)</p><p><a href="http://www.bobsguide.com/guide/news/2013/Dec/16/jp-morgan-to-ban-staff-from-instant-messaging.html">JP Morgan to ban staff from instant messaging</a> (Bobsguide (press release))</p><p><a href="http://www.computerworlduk.com/news/it-business/3493907/jp-morgan-plans-instant-messaging-ban-for-traders/">JPMorgan plans instant messaging ban for traders</a> (ComputerworldUK)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=dx3bIJp3l_4RtsM76zhp3JXoVndhM&ned=us">38 additional articles.</a></p>