Caught in the web

Are banks facing a rough ride on the information superhighway?

Morgan Stanley in the US is facing a $60 million lawsuit from two employees following a “racist email” incident in October 1995, while NatWest Markets recently fired three employees for bringing pornography into the office on floppy disks, which they then distributed to staff and the outside world via email.

“This is just the tip of the iceberg,” says Michael Chissick, a specialist in internet issues at law firm Field Fisher Waterhouse. “Emailers tend to be more direct and honest than in other mediums.”

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