Banks Fined Nearly $2 Billion for Using Unauthorized Messaging Apps

Banks Fined Nearly $2 Billion for Using WhatsApp as Instant Messaging App for Their Business Operations

A total of 11 banking institutions have been fined by regulators to the tune of nearly $2 billion dollars after they used instant messaging apps such as iMessage and WhatsApp for business communications. It’s alleged that the financial institutions allowed and, in some cases, even encouraged the use of consumer-grade messaging apps, resulting in scores…