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A JPMorgan trader was reportedly suspended after chatting with colleagues on WhatsApp

Published by Business Insider on Thu, 16 Jan 2020

A senior credit trader at JPMorgan Chase has been suspended as the bank reviews whether he violated policies by chatting with colleagues on WhatsApp, according to Bloomberg.Edward Koo, who has been with the company for 20 years, was discussing markets but the investigation hasn't found any improper conduct, Bloomber wrote, citing sources.Banks are concerned about traders' private messaging as they seek to protect against fraud and insider trading.Visit Business Insider's homepage for more stories.Edward Koo, a senior credit trader at JPMorgan, was suspended after he was found chatting with colleagues in a WhatsApp group chat, according to Bloomberg.Koo, who has been with the company for 20 years, was placed on leave as the investment bank reviews whether he violated company policy, Bloomberg said, citing people familiar with the matter."The discussions included market chatter, and the probe so far hasn't indicated any improper activity," Bloomberg wrote, citing a source.JPMorgan has not yet ruled out the possibility of initiating internal investigations against other members of the WhatsApp group, a source told Bloomberg.Both JPMorgan and Koo declined to comment to Bloomberg on his leave of absence.Banks traditionally monitor employee communications by tapping telephone conversations and storing emails and instant chat messages, according to Bloomberg.Read the Bloomberg story here.SEE ALSO:JPMorgan Chase just reported record profits for 2019 ' and CEO Jamie Dimon says it's due to these tech prioritiesJoin the conversation about this storyNOW WATCH: How to find water when you're stuck in the desert
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