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Is your bank spying on you?

It’s no secret that telephone calls on the trading floor are monitored, but events of the past few days suggest banks’ scrutiny of employees goes a little further than this.

Deutsche Bank is alleged to have gone so far as to hire detectives to spy on male employees suspected of leaking information. And in the ongoing saga over Serge Aleynikov and his alleged removal of secret codes from Goldman Sachs, the Financial Times reports that Goldman, ‘monitored Mr Aleynikov’s e-mails and computer activity in his final days at the firm.’

Is such behaviour a) normal and b) acceptable? We are inviting comment below…

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AUTHORAnonymous Insider Comment
  • Sh
    Shhh
    8 July 2009

    Ditto to Alastair's comment.

  • Do
    Doovee
    8 July 2009

    This is acceptable, but not ethical...

  • SC
    SC
    8 July 2009

    a) it is not normal
    b) it is only acceptable in certain situation whereby Company's trust is compromised, if not then it is illegal - you work for the Company, you do not sell your life/ soul to the Company. As to when Company's trust is being compromised, the investigation should be independent of your immediate team and be in a form of independent panel, just like any whistleblowing situation. If there is no standard of reporting to this kind of act, all employers will be sitting in a position of misusing their power and breaching the employees trust to the detriment of the employee in certain situation which is not even related to work which could be done on personal ground. In the view of an employee, it is illegal and a police report could be launch for such act.

  • Po
    Polizei Dawg mit schinken
    7 July 2009

    I wouldn't object to an employer keeping an eye on my day-to-day in a hyper informatiion sensitive competitive environment like banking it seems fair enough.

    The exco member being tailed by a PI firm however is a bit much, but again, he was suspected of leaking docs to the journo's so what is an employer expected to do? Employers have rights too.

  • To
    Tommy
    7 July 2009

    German also like to build dungeons in their cellars.

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.