Deutsche Bank AG: Spying on Stakeholders
Dr Viola Makin and Chijioke Oji
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Wits Business School, University of the Witwatersrand
Finance, Banking, Ethics
In May 2009, news of Deutsche Bank’s spying operations became public. Over a period of six years, the bank’s corporate security department had conducted secret surveillance of certain employees, board members and shareholders. Deutsche Bank had hoped to use the knowledge gained to its advantage in court or in the media. Thus, the bank faced the possibility of legal action instituted by the people it had spied on. Furthermore, news of the spying operations had the potential to damage Deutsche Bank’s reputation as a trustworthy institution.