(Bloomberg) -- Deutsche Bank AG’s management board has agreed to take a financial hit after criticism from regulators of widespread use of private communication channels among staff via applications such as WhatsApp, people familiar with the matter said.

The lender is one among several other financial firms that’s under investigation by US authorities over the use of private communication channels that can’t be archived. It recently introduced a new app that allows retrieval of messages on company phones, Bloomberg has reported. 

A spokesman for Deutsche Bank declined to comment. 

 

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