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Germany's Deutsche Bank Cracks Down, Sex Is No Longer A Business Expense

By Can Tran     Apr 23, 2008 in World
For the senior executives that work for the Deutsche Bank, Germany’s largest bank, they now have to cope with not being able to claim certain business expenses anymore.
In the case of the senior executives of the Deutsche Bank, they cannot write off prostitutes, pay-per-view porn in their hotel rooms, visits to brothels, and any other sexually “sinful” activities as business expenses. In short, if they want to engage in such activities, senior executives must shell out their own dime.
The reason being for this memorandum from the higher ups at the Deutsche Bank is due to the global credit crunch. This was a decision based on the current state of the global economy and not on the matter of ethics.
Deutsche Bank does not approve of any adult entertainments, and such expenditures will not be reimbursed,” stated the memo to the Deutsche Bank’s senior executives. After that memo, they cannot be reimbursed for any adult activities. That would mean they would have to spend their own money on adult entertainment and activities. In the politically correct way, Deutsche Bank has told them to use their own money.
The Deutsche Bank has tightened a lot of things. But, it has cracked down on adult entertainment and adult activities. However, it would possibly give off the indication that the higher-ups at the Deutsche Bank has known this has been going on for quite some time. It may give off another indication that if it was not for the global credit crunch, this would still possibly continue.
But, expenses are not limited to that type of activity and entertainment.
While the memo is aimed at senior executives, it does apply to all of the workers. This includes the thousands of workers from Great Britain that works for the Deutsche Bank on a global scale.
In a nutshell, the Deutsche Bank is cracking down on such things being written off as a business expense. For those that work at the Deutsche Bank, the memo is the long version of: Use your own money to do that stuff.
More about Germany, Adult entertainment, Deutsche bank