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Wall Street’s Top Cop Says Texts Can Hold a Firm-Ending ‘Bomb’

June 13, 2022, 1:02 PM

The top federal prosecutor overseeing Wall Street says big banks and hedge funds should get a handle on employees’ use of messaging services like Signal or WhatsApp, because those encrypted apps are where his people will look for evidence of criminal activity.

“If I were head of a fund, and I had folks communicating about business on encrypted channels or personal devices, I would want to know,” said Damian Williams, US attorney for the Southern District of New York. “That’s where the bomb could be that blows up the whole shop.”

In an interview with Bloomberg, Williams, 41, repeatedly ...