According to informed circles, the use of private mobile phones via channels such as WhatsApp not only violates the bank’s internal rules, but can also lead to conflicts with US criminal law. The institute’s money laundering unit warned in a memo in January that business-related messages should not be deleted from private cellphones because doing so could be a criminal offense under US law, people familiar with the matter say. Staff were also reminded again that the bank’s rules prohibit the use of personal cell phones for business communications anyway, the people said.
A spokesman for Deutsche Bank declined to comment on the matter.
Deutsche Bank has been tightening its internal rules for some time in view of stricter regulations in the USA. CEO Christian Sewing announced last month that the bank was investigating the use of personal email accounts for business purposes. The memo was sent shortly thereafter. The bank also wants to improve storage of messages sent from company phones, people familiar with the plans said.
JPMorgan was fined $200 million in the United States in December for using private communication channels like WhatsApp for work. The Securities and Exchange Commission continues to investigate the extent to which private communications by employees in the industry can be traced, probably at other banks as well.
Deutsche Bank is struggling with permanent regulations on modern communication channels that meet the industry’s requirements for storing business communication. The bank initially blocked the use of WhatsApp and SMS on company cell phones five years ago, but made it possible again three years ago under certain circumstances. A new solution is now being worked on.
(Bloomberg)
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