Technology

59549 readers

3216 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

755

Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

81 comments fedilink hide all child comments

Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

you are viewing a single comment's thread
view the rest of the comments

[–] SatanicNotMessianic@lemmy.ml 32 points 1 year ago

I feel like they need to apply charges like conspiracy and fraud against the individuals responsible. When I worked in national security oriented roles, the standard response when being asked to break the law (eg reveal classified info) was to say “I could do that, but I look really bad in orange.”

If the individuals being asked to commit violations and crimes were held individually responsible more often, people would be less likely to do it.

White collar crime costs the economy far more than other kinds of crime, and that’s due to a lack of enforcement caused by misaligned priorities.