UBS says it took appropriate action against staff over electronic messaging

Singapore

UBS said on Wednesday it had taken action against staff in Singapore for their use of electronic messaging, highlighting how banks have clamped down following probes into interest rate setting and foreign exchange trading.

Reuters reports that the bank said a report on Swiss finance blog Inside Paradeplatz website that it had fired employees in Singapore for allegedly using individual and group WhatsApp messages to send sensitive documents to each other was inaccurate.

UBS said in a statement that no client data had been compromised and that none of its employees had been sacked.

'This is an internal matter that was self-discovered within UBS and the appropriate steps have been taken,' a spokeswoman for the bank said, without elaborating on what those steps were.

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UBS says took action over electronic messaging by Singapore staff

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