Deutsche Bank staff forced to install app that tracks messages – The Telegraph

Bankers at Germany’s largest lender are being made to install an app that tracks communications on their phones as regulators clamp down on messaging between bankers and clients on platforms like WhatsApp.In the past several weeks Deutsche Bank has told some employees to download Movius, a US mobile app that enables compliance staff to monitor people’s calls, text messages, and WhatsApp conversations, according to the Financial Times.It is understood that the roll-out has been focused on work phones and not private devices.The monitoring push comes as regulators around the world become increasingly focused on bankers’ use of messaging apps. Last year, JP Morgan Chase was fined $200m by US regulators for failing to keep records of staff communications on personal devices.Senior managers at lenders have become more sensitive to private messaging as a result of the scrutiny. Many banks revealed in recent annual reports that they were facing investigations by the US Commodity Futures Trading Commission regarding the use of inappropriate channels for business discussions. “Maintenance of complete and accurate books and records is required in order to operate in our industry, as is diligent supervision,” said Rostin Behnam, acting chairman at the CFTC, which regulates US derivatives markets. He added…
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