Case Review: The Deutsche Bank Espionage Scandal

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The Deutsche Bank Espionage Scandal
Usually when one thinks about finances, the first thing that comes to mind is the banking sector. Banks help a country’s growth with its investing and banking activities, but during the period between 2001 to 2009, the culmination of one of the biggest problems the world economy has ever faced took place: The Great Recession. According to Amadeo (2017), The Great Recession was the worst depression in the history of the US and was also the one of the longest, lasting 18 months (December 2007 - June 2009), during which had created a global banking crisis. Through the efforts of everyone, including the banking industry, the economy was able to bounce back. One defining factor that every bank needs to successfully survive is trust. If an investor cannot trust their bank, then how could the same person trust this institution with their money? To gain the trust of these investors, banks would need to develop tight security measures for assurance, as well as quality service. These measures are for the benefit of the client, but what happens when your most trusted bank thinks otherwise?
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The Deutsche Bank provides their services with corporate values and beliefs at its core, but during the year 2001 up to 2009, reports of espionage, or spying, on multiple shareholders were found against Deutsche Bank, though the company had classified them as ‘isolated cases’. BBC News (2009) stated that Deutsche Bank began its own inquiry of the spying allegations in May
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