There is an evident shift in fraud typologies away from traditional real world frauds, such as card skimming, fraudulent documents, social engineering, etc., toward cyber frauds, such as cyber intrusion, phone cloning, malware and fake apps (mal-apps).
Entries in Morgan Stanley (37)
Regulators charged with enforcing anti-corruption, anti-money laundering, and economic sanctions laws and regulations have turned new attention to the real estate industry, and investigations and enforcement efforts span the globe.
The UK Financial Conduct Authority issued a warning Monday about a cloned firm using Morgan Stanley's name and London address to take money from victims.
Brazil's antitrust agency opened an investigation into fifteen foreign banks and thirty individuals for allegedly forming a cartel to manipulate exchange rates of local Brazilian reals and foreign currency.
The Securities and Exchange Commission Tuesday said BNY Mellon agreed to pay $14.8 million to settle charges that it violated the Foreign Corrupt Practices Act by providing valuable student internships to family members of foreign government officials affiliated with a Middle Eastern sovereign wealth fund.
For only the second time in FCPA history, the DOJ Monday made a public announcement that it wouldn't prosecute a company that cooperated in building a case against a former officer.
In a securities filing this month, Bank of New York Mellon Corp. said it received a subpoena from the SEC asking about job offers to government officials and internships awarded to their family members.
Bank of New York Mellon Corp. said the SEC has recommended an enforcement action for possible FCPA violations related to the bank's dealings with sovereign wealth funds.
In the FCPA area we all know how important it is to have effective compliance programs. The DOJ’s Criminal Division and the SEC have emphasized that these programs need to be diligent, and not mere formalities. Moreover, we know that programs count to the enforcers, so we have a reason to listen to them. The FCPA Guidance tells us this, and declinations such as Morgan Stanley demonstrate it.
The SEC has expanded its investigation into several large banks' hiring practices in Asia, requesting more information that could show the firms violated the FCPA by hiring relatives of well-connected officials.