JPMorgan penalized USD 4 million for unintentionally erasing 47 million emails

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The Securities and Exchange Commission has fined JPMorgan Chase USD 4 million for accidentally deleting 47 million emails, some of which the watchdog was attempting to access.

According to the SEC, subpoenas were issued for many of the permanently deleted emails in at least a dozen regulatory investigations. As staff members worked to troubleshoot a problem with a project to delete older communications that were no longer required to be retained, emails from about 8,700 staff mailboxes were inadvertently deleted in 2019.

This penalty follows a USD 125 million fine imposed on JPMorgan in 2021 for failing to preserve text messages and other communications sent between 2018 and 2020.

Read More: JPMorgan fined $4m for accidentally deleting 47m emails

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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