A handful of bankers were dismissed by Wells Fargo after the financial giant discovered they were “simulating keyboard activity” rather than actually working.
More than a dozen employees, all part of the firm’s wealth and investment management team, were “discharged following a review of allegations involving the simulation of keyboard activity to create the impression of active work.”
This issue was disclosed in a filing to the Financial Industry Regulatory Authority, as reported by Bloomberg.
“Wells Fargo holds employees to the highest standards and does not tolerate unethical behavior,” a company spokesman told Reuters. Wells Fargo did not immediately respond to Fortune’s request for comment.
The filing does not specify how the employees managed to fake their working day or the duration of this misconduct. It is also unclear whether the employees were working in the office or from home, although Wells Fargo generally requires staff to be in-person at least three days a week.
“A hybrid schedule is available with many of our corporate positions, giving you the flexibility to work from home on some days and at the office on others,” the company’s website states—a stance that contrasts with the broader push on Wall Street to return to the office.
‘Mouse jiggler’?
Wells Fargo, the third largest bank in America, did not elaborate on how its staff simulated their work, but numerous techniques and technologies exist for this purpose.
During the coronavirus pandemic, when staff worked from home, social media was full of tips and tricks on how to appear busy while doing the bare minimum.
One tool reportedly used was a ‘mouse mover’ or ‘mouse jiggler’ that keeps activity on the device, showing the user as ‘online’ with their screen active.
Similarly, keyboard ‘clickers’ can simulate typing by pressing random keys on the keyboard. These tools are still available online, with some claiming to be “undetectable.”
Wall Street mandates
The Wells Fargo incident may bolster the position of Wall Street leaders who advocate for more in-office work, allowing bosses to supervise employees directly.
Despite experts highlighting the benefits of hybrid work, such as improved solutions for women and retention of talented individuals, many finance leaders push for staff to return to the office.
JPMorgan CEO Jamie Dimon, for instance, has urged employees at America’s biggest bank to return to the office. He suggested companies should adjust their models to help women needing more flexibility but maintains that remote work “doesn’t work for young kids or spontaneity or management.”
As a result, senior leaders at JPMorgan are required to be in the office five days a week, while other employees must be present at least three times a week.
Morgan Stanley follows a similar approach, with former CEO and current chairman James Gorman emphasizing last year that employees cannot choose their compensation, promotions, or to work from home five days a week, insisting they should be with other employees at least three or four days.
Goldman Sachs shares this stance, consistently reminding employees of the need to be in the office five days a week. Last summer, human resources chief Jacqueline Arthur reiterated: “While there is flexibility when needed, we are simply reminding our employees of our existing policy. We have continued to encourage employees to work in the office five days a week.”
