Major Wall Street banks are likely to reach an agreement with US authorities on using messaging services such as WhatsApp for business communications. As part of the agreement, the financial groups will admit that using the intelligence agencies has violated legal requirements, the Wall Street Journal reported over the weekend, citing people familiar with the matter.
Fines of up to $200 million each are on the shelf. In total, it is more than a billion dollars.
The houses include Bank of America Corp, Barclays, Citigroup, Deutsche Bank, Goldman Sachs, Morgan Stanley and UBS, as the “WSJ” continues to write. Jefferies Financial and the Japanese bank Nomura also approached an agreement, albeit with considerably smaller payments. Authorities planned to announce the settlements at the end of September.
The Bloomberg news agency had already reported in June that Deutsche Bank was preparing to face charges in this regard.
Source: Krone
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