Bankers are now so scared of being caught out that they communicate via secure messaging service WhatsApp, according to one trader – prompting some firms to ban mobiles from the office.
“Some bankers have quit their jobs because of the restrictions placed on them, according to the trader. ‘A common complaint you hear is that this job used to be fun,’ he told MailOnline. ‘Everyone’s paranoid, no one really knows what the rules are. ‘There are junior people who think, this isn’t the job I thought it was, I’m going to do something else.'”
“The Libor crisis broke into the open in 2012, when Barclays became the first bank to admit that its traders had artificially manipulated interest rates both for their own gain and to make the company seem more stable, and was fined £300million by regulators in Britain and the US.” http://www.dailymail.co.uk/news/article-3194053/How-banks-banned-phones-swearing-emojis-Libor-scandal.html
DMR Comment: “They are leaving because they can no longer leverage the system into their favor, now they actually have to work to earn that bonus..”
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