Deutsche Bank to cut bonuses of staff misusing WhatsApp messaging

The headquarters of German bank Deutsche Bank with its logo are pictured in Frankfurt am Main, Germany. Deutsche Bank is among several global lenders that have paid fines of more than US$2bil (RM8.80bil) to the Securities and Exchange Commission and the Commodity Futures Trading Commission to settle an industry-wide investigation into whether bank staff made use of unauthorised communication channels. — AFP

Deutsche Bank AG will cut bonuses for staff that inappropriately used messaging services for business communications as the repercussions from a sweeping US probe ripple across the industry.

Employees whose usage of unauthorised devices or messaging apps was found to be in particularly severe breach of policies will see a substantial reduction in variable pay, people familiar with the matter said. The cuts affect pay still to be awarded for last year, the people said, asking not to be identified discussing private information.