Some Banks will be fined by SEC with millions for WhatsApp and Messenger use

Gandalf_The_Grey · Aug 23, 2022

Some banks (Deutsche Bank and others) have caught a fat problem with allowing WhatsApp or other messengers among employees. According to the U.S. Securities and Exchange Commission, the banks are in violation of requirements (as these Messenger messages can be deleted). Now they face fines totaling $2 billion (the settlement is likely to be announced by the end of September 2022).

Using messengers in business environments seems critical. In 2018, I had deleted WhatsApp as a messenger here because of the European GDPR (General Data Protection Rules). But many companies continued to use WhatsApp in business environments. Online a few enterprises has prohibited the use of WhatsApp in the corporate environment. While in Europe the GDPR may be relevant for corporate use, in the US banks are bound by other rules from SEC etc. These SEC compliance requirements cannot be fulfilled with private messengers such as WhatsApp.

Some Banks will be fined by SEC with millions for WhatsApp and Messenger use

[German]Some banks (Deutsche Bank and others) have caught a fat problem with allowing WhatsApp or other messengers among employees. According to the U.S. Securities and Exchange Commission, the banks are in violation of requirements (as these Messenger messages can be deleted). Now they face fines t

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