Deutsche Bank’s Leadership Takes Financial Hit on Staff Use of WhatsApp

The Deutsche Bank AG logo sits on the bank's campus office building in Frankfurt, Germany, on Thursday, Jan. 31, 2019. On the eve of fourth-quarter results that are likely to reflect its troubles, Deutsche Bank AG’s ability to avoid a government-brokered merger with Commerzbank could rest on its performance in the first quarter of 2019, according to people briefed on the thinking of its top executives. , Bloomberg

Steven Arons, Bloomberg News

Jun 23, 2022

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(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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