HSBC probed in US over staff WhatsApp messages

London-based bank is co-operating with US regulator's probe into the use of 'non-HSBC approved messaging platforms for business communications'

Regulator 'looking at the use of mobiles and WhatsApp and text messages to make sure it’s appropriate'.

Banking giant HSBC is being investigated by US regulators over bankers’ misuse of services such as WhatsApp.

The London-based bank is co-operating with the Commodity Futures Trading Commission probe into the use of “non-HSBC approved messaging platforms for business communications”, according to its annual report published alongside earnings.

HSBC chief executive Noel Quinn said the CFTC’s work was part of a broad investigation by US authorities.

“I don’t think it’s specific, I think it’s general across all financial institutions,” he said.

“They’re looking at the use of mobiles and WhatsApp and text messages to make sure it’s appropriate,” Mr Quinn said.

In December, the CFTC and Securities and Exchange Commission fined JPMorgan Chase & Co $200m after finding that staff at the bank had, for years, shrugged off their surveillance duties and sent work-related messages using platforms such as WhatsApp or their personal email addresses.

“We obviously have internal procedures and requirements as to the use of non-bank platforms,” HSBC chief financial officer Ewen Stevenson said.

HSBC took a charge relating to its Chinese commercial property exposure and warned of a weaker performance in its wealth business in Asia, blemishing fourth-quarter results that saw the lender boost plans to return billions of dollars to investors.

• Bloomberg