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City of London

Barclays Latest Bank to Make Provision for US WhatsApp Fine

  • British lender said it’s booking a $200 million charge
  • Credit Suisse, Deutsche Bank also took charges this week
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European banks are counting the cost of their employees’ messaging habits, which have caught the attention of US regulators in a global investigation.

Barclays Plc said in second-quarter results Thursday that it has reached an agreement with US regulators to pay a $200 million penalty in connection to a probe into business communications by employees “over electronic messaging channels that had not been approved by the bank.” The proposed resolution will see Barclays pay a $125m penalty to the Securities and Exchange Commission and a $75m fine to the Commodity Futures Trading Commission.