this post was submitted on 08 Aug 2023
781 points (98.8% liked)

Technology

60062 readers
4459 users here now

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

Our Rules

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

Approved Bots

founded 2 years ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
781
Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)
submitted 1 year ago by [email protected] to c/[email protected]
85 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
[–] [email protected] 19 points 1 year ago (2 children)

it's more complicated when it's an entire corporation. Corporations only care about the bottom line so they'll let their minions take the blame. The only real solution is to hurt them in the wallet enough that they have to play by the rules to make a profit.

[–] [email protected] 23 points 1 year ago (1 children)

Not really. Put the C suite in prison and I'm sure the next crew will think twice. They can try and throw underlings under the bus but we don't have to accept that. The buck stops at the top.

[–] [email protected] 7 points 1 year ago (2 children)

Can't put people into prison for things they didn't do, and demonstrating RICO is a lot harder than it sounds. I guarantee you, you start going after their profits and making them take losses, the behavior stops immediately, and across the board.

they'd just get another C-Suite.

[–] [email protected] 11 points 1 year ago

But they did do something? They ran a company in an illegal fashion. If they didn't act directly they were negligent. Either way, lock them up.

[–] [email protected] 8 points 1 year ago

They always defend their ridiculous income by saying that it's proportional to their level of responsibility? Then the board is responsible for everything that happens in the company unless they can pin point exactly who did what under whose guidance.

[–] [email protected] 1 points 1 year ago (1 children)

Send the whole corporation to prison since they have legal rights same as I do (but I can't afford to enforce mine).

[–] [email protected] 2 points 1 year ago

hey, I'd be down for that. just one question..... ... how?