HSBC launches probe into whether US-based bankers used WhatsApp to send sensitive work-related messages
Banking giant [object Window] Holdings is under investigation by U.S. regulators over American staffers’ alleged misuse of messaging platforms like WhatsApp to send sensitive, work-related messages, the company said Tuesday.
In its annual report published early Tuesday morning, the London-based lender said it’s currently cooperating with the Commodity Futures Trading Commission (CFTC) in the federal probe, which will look into U.S. 人员’ use of ‘non-HSBC approved messaging platforms for business communications.’
HSBC CEO Noel Quinn told 彭博社 that the investigation by the government agency is part of a sprawling probe by other financial federal bodies, including the Securities and Exchange Commission (美国证券交易委员会).
‘I don’t think it’s specific,’ Quinn said. ‘I think it’s general across all financial institutions.
‘They’re looking at the use of mobiles and WhatsApp and text messages to make sure it’s appropriate.’
HSBC CEO Noel Quinn said Tuesday that the investigation by the government agency is part of a sprawling probe by other financial federal bodies
In its annual report Tuesday, the London-based bank said it is cooperating with the Commodity Futures Trading Commission (CFTC) in the federal probe. The bank is under investigation by US regulators over American staffers’ alleged misuse of messaging programs
The bank’s chief financial officer also weighed in on the now ongoing investigation, reiterating the company’s strict polices against the use of non-approved platforms for work-related correspondence.
‘We obviously have internal procedures and requirements as to the use of non-bank platforms,’ Ewen Stevenson told the outlet Tuesday.
All conversations on WhatsApp are end-to-end encrypted, meaning only the participants of a chat can access the content of the messages, and no one in between, making them particularly had to examine – especially if the sender does not want them to be seen.
更重要的是, senders can also avoid scrutiny by simply deleting any inappropriate messages from the app, and claiming innocence. 那, 然而, would not be the case for non-company emails, which are typically saved even after a user deletes one.
The federal investigation comes as the company reported it annual profits more than doubled last year, reporting its highest annual net profit since 2018.
HSBC brass said Tuesday that rising interest rates were also likely to thrust this year’s number even higher, as the company '钱真的不是我的对象 $3.5 billion in bonuses to its tens of thousand staffers in branches across the globe.
The federal investigation comes as the company reported it annual profits more than doubled last year, reporting its highest annual net profit since 2018
The gargantuan gratuity by the bank was the biggest given since 2014, 从 $2.7 十亿 2020 – 一种 32 增加百分比 – an earnings bulletin published by the bank alongside the annual report Tuesday revealed.
CEO Quinn, 与此同时, took home a total pay package of roughly $12.2 million for for the year – $6.6 million in pay and bonuses as well as £4.1 million in long-term performance share awards.
HSBC also reported pre-tax profits of $18.9 billion US dollars for 2021, 从 $8.8 十亿 2020, when pre-tax profits dipped by more than a third due to hefty loan losses incurred by the bank during the height of the pandemic.
Federal agents will look into whether US staffers used ‘non-HSBC approved messaging platforms for business communications,’ HSBC brass said Tuesday. Pictured here are agents raiding construction manufacturer Caterpillar’s Illinois office in 2017 after the company was accused of tax fraud
WhatsApp is one the messaging platforms alleged used by the staffers at the bank’s US branches to communicate highly sensitive, work related information, HSBC said Tuesday
The company is not the first bank to find itself under federal scrutiny over staffers’ alleged messaging misuse.
在十二月, the CFTC and SEC slapped US-based big bank JPMorgan Chase with a $200 million fine for failing to keep track of employees’ use of private apps and personal email accounts that circumvented company record-keeping requirements.
The organization’s joint probe – similar to HSBC’s – found that staff for years shirked on company-mandated practices for the sending of work-related material, instead using platforms such as WhatsApp to relay sensitive material to staffers.
The company responded to the misuse by taking action against more than a dozen of its traders, firing one and stripping bonuses from the rest.
证券交易委员会 (美国证券交易委员会) is also apart of the probe, HSBC has revealed