Deutsche Bank tenders for e-mail compliance system - Reuters

Deutsche Bank tenders for e-mail compliance system - Reuters

Deutsche Bank has put out a tender for an e-mail monitoring system that will scan messages for content and flag potential compliance abuses.

Andrew Proctor, Deutsche Bank's head of compliance in Britain and Western Europe told Reuters: "(After) discussion between compliance and senior management we see it as prudent to monitor our risk ... to reduce the risk of breaches,"

Deutsche Bank is still awaiting the result of an investigation in 2004 by the Financial Services Authority into an equity syndicate official who was suspected of using e-mail to give a misleading impression about how well a sale of Scania AB shares had gone.

Proctor says the bank is in discussion with vendors for the new system and expects to review proposals in the next two months.

He told Reuters that the new system will check for certain keywords in e-mail traffic on particular transactions, or between particular groups of staff, or e-mails at particular times.

In July, Deutsche Bank moved to ban the use of mobile phones at its trading rooms in a bid to make it easier to monitor traders' conversations with clients.

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