Wells Fargo, the third-largest bank in the United States, has terminated or accepted resignations from over a dozen employees over allegations of faking keyboard activity to give the impression of being productive while working remotely.
This revelation came to light through broker filings with the Financial Industry Regulatory Authority (Finra), though the bank has remained tight-lipped about the specifics of how the misconduct was detected or whether it is linked to remote work arrangements.
This development coincides with new regulations mandating the inspection of home offices used by brokers every three years, which came into effect this month.
"Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour," spokeswoman Laurie Kight stated, underscoring the bank's zero-tolerance policy towards such misconduct.
Large companies have increasingly adopted sophisticated surveillance tools to monitor remote employees. These technologies, which gained prominence during the Covid-19 pandemic, can track keystrokes, eye movements, take screenshots, and log website visits.
However, the counter-technology market has also thrived, with devices like "mouse jigglers" designed to simulate computer activity becoming widely available. Amazon reports that thousands of these devices, priced under $10, have been sold in the past month alone.
The firings at Wells Fargo were first reported by Bloomberg, which noted that more than a dozen employees were affected. The BBC confirmed six dismissals and one voluntary resignation following the allegations. Many of those implicated had relatively short tenures at the bank, having worked there for less than five years.
This incident occurs amidst a broader push by financial firms to bring employees back to the office. Despite the continued popularity of remote work post-pandemic, the trend is seeing a gradual decline.
Wells Fargo, for its part, has embraced a hybrid flexible model for most of its employees since 2022.
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