The Indian startup I work for (mentioning Indian because the higher-ups are Indian and it may be related to their culture - I don't know as we're based in the UK and the higher-ups are nice people I think) used to do this. Was asked to record Zoom meetings I had with a junior colleague for some reason (we were discussing implementation work). I think it's a more relaxed/trusted environment for them now.

Enron energy traders called power plants and asked them to shut down during high load times. They encouraged the plant personnel to fabricate the reason for shut down. This created an electricity shortage, which forced rolling blackouts. Energy prices shot up, making for massive profits for Enron. There were also headline stories about elderly people suffering without air conditioning. The Enron traders joked about this in their phone calls to one another.

Of course, we only know about this because their phone calls were recorded. If I recall correctly, none of the traders indicated that they were aware their calls were recorded.

https://www.latimes.com/archives/la-xpm-2005-feb-04-fi-enron...

https://www.npr.org/2006/01/31/5180594/enron-trader-tapes-av...

In the finance industry this is required by regulation for many types of phone/video calls.

Many major banks will record all communications of people involved in trading (traders, sales, etc) whether internal or external.