Technology

60053 readers

2862 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago

MODERATORS

782

Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

85 comments fedilink hide all child comments

Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

you are viewing a single comment's thread
view the rest of the comments

[–] ultratiem@lemmy.ca 49 points 1 year ago (1 children)

And made $5 billion on the deal. I imagine it’s like “oh right, now we have to pay off the regulators, I mean the fine.”

[–] Oneobi@lemmy.world 5 points 1 year ago

Its a shit show. Staff can't event send a text saying they are sick unless they use an approved business communication channel.

Worst still, if you receive said comms from staff on a non approved channel, eg your personal phone, you have to report it to HR.

There is no way bank's can operate like that so the regulator is going to be lining their pockets for quite some time.