Major Bank Bans Employee Texts

Deutsche Bank AG is restricting its employees’ ability to use electronic messaging on their mobile phones, even for business purposes, except on specific systems that the bank can monitor and record. Unapproved text messaging systems like WhatsApp and Google Talk are forbidden, the bank told its employees in a memo. “We fully understand that the deactivation will change your day-to-day work and we regret any inconvenience this may cause,” the memo stated. “However, this step is necessary to ensure Deutsche Bank continues to comply with regulatory and legal requirements.” The memo suggested that email could replace some texting that employees do with external clients. Deutsche Bank came under fire from regulators for its allegedly lax communications controls, and failure to retain electronic voice recordings and other records, and was forced to pay hefty fines.