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in Tech

Banks fined $549 million for hiding messages in iMessage and Signal

by Editor August 9, 2023, 11:55 am 1.2k Views

Banks fined $549 million for hiding messages in iMessage and Signal

Several US financial firms, including multiple Wells Fargo companies, will

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$549 million in fines after admitting they couldn’t produce discussions about company business from smartphone messaging apps used by their employees, “including those at senior levels.”

Both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) fined banks for being unable to produce discussions going back…

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