Whatsapp Usage Fines: More than $1 Billion on JP Morgan, Morgan Stanley, Goldman, Bank of America, Citi, UBS, Credit Suisse, Barclays, Deutsche Bank
26th August 2022 | Hong Kong
The United States Securities & Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) which had been investigating financial institutions‘ client communications & transactions including on unauthorised messaging app such as Whatsapp, are facing collectively more than $1 billion of fines. Some of the largest banks who have already been fined, will be fined, make provisions to be fined are: JP Morgan ($200 million), Morgan Stanley ($125 million, $75 million), Goldman Sachs, Bank of America ($200 million), Citi, UBS, Credit Suisse ($200 million), Barclays ($200 million) and Deutsche Bank ($165 million). Read: HSBC Fires FX Trader & Credit Suisse Fires Global Head of ECM Syndicate for Using Messaging Channels & Whatsapp to Communicate with Clients. Read: Deutsche Bank CEO Christian Sewing & Management Forgo 2023 Bonus of $79,000 for United States Investigation of Using Messaging Apps such as Whatsapp with No Archive
“ More than $1 Billion on JP Morgan, Morgan Stanley, Goldman, Bank of America, Citi, UBS, Credit Suisse, Barclays, Deutsche Bank “
Wall Street Texting Abuse Fines Poised to Reach About $1 Billion
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