At JPMorgan, A Surveillance Program To Predict Rogue Employees

JPMorgan Chase & Co is rolling out a program that will use undisclosed “data points” to predict which employees are likely to go rogue, as part of an effort to reduce the company’s legal bills. Details of the program, including what will happen to employees who get fingered, are sketchy, but it is said to involve a surveillance unit that will monitor electronic and telephone communication. The program is being tested in the trading part of the business, but is expected to be applied company wide by 2016. JPMorgan’s legal bills attributable to the actions of rogue employees, including the “London Whale,” have been in the billions of dollars.