Wall Streeters Be Warned: A Cia-backed Startup Could Be Listening To Your Calls

Bloomberg/Getty ImagesIf you're a Wall Street trader, you'll want to be extra careful about what you say on calls and in emails going forward. Especially if you work for Credit Suisse. That firm has teamed up with the artificial intelligence firm Palantir to improve its trader surveillance, Bloomberg's Jeffrey Voegeli reports. Palantir is no joke: It was cofounded by the Facebook backer and PayPal cofounder Peter Thiel — and it was seed-funded by the CIA. It's worked with other banks in the past, but this is the first time it's entered into a joint venture with one, according to the report. Credit Suisse plans to use Palantir's technology to monitor the behavior of all its employees in the hopes of catching rule-breakers before they break the law. It will do so by identifying individual trader activities that stand out from how they would normally act — and from how their colleagues would. This is not the first time a Wall Street bank has used technological solutions to weed out rogue traders. JPMorgan last year launched a program that uses algorithms to identifying bad eggs.

Topics:  getty imagesif   jeffrey voegeli   facebook   paypal   peter thiel   cia   london whale   kweku adoboli   deutsche bank   libor   uk fx   banks   watch   bloomberg   wall street   credit   suisse   palantir   jpmorgan   calls   trader   scandal   identifying   firm   currency   traders   break   aint   rogue   time   

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News