https://secure.ethicspoint.com/domain/media/en/gui/7423/index.html
you want to raise concerns just use the above link
it is likely that no immediate action is taken but the more employees raise it, the higher the chances that you wake someone up
you can do this entirely anonymous, there are plenty of email providers where you can create a disposable email addresses
I have done my part, what about you?
24 replies (most recent on top)
Wrong, penalties were $500 million.
@hbxk doesn't even know the difference between a civil case and a criminal case.
OMG… they walk among us…
We WERE prosecuted for these crimes and paid $50 million dollars. And as far as ethics go it was caused by our Sr Mgt who knowingly schemed to skim off more money than the service could throw off. The pressure was enormous to increase revenues.
@9msx, according the the ethics training I have taken, someone should be prosecuted for these crimes. The fact is, there was NO crime and this was just a shakedown by greedy lawyers.
And yet a whistleblower received $500 million dollars for unearthing it. It had nothing whatsoever to do with “Charging for a service”. It was manipulating the service order to ensure that the bank invariably received the best rate of the day and the clients received the worst. If you really don’t understand this then you need more ethics training. it was a major scandal caused by leaders pushing to get more revenue than it threw off and also serious falsification of records.
Charging for a service is not theft. Why don't you sue your car dealer for charging you more for your car than the manufacturer charged them?
A criminal and proud of it, trying all sorts of tortuous illogical arguments to convince himself that he harmed no one. None of it changes the fact hat he helped the Bank steal from customers. This was a really big scandal and we paid huge penalties to our regulators.
Grant Wilson is the only good actor in this sad story.
@8dnv, customers were fully aware of the rates they got. Just because some marketing dope put "best rate" in a brochure doesn't mean BK did anything even unethical much less criminal. If we did that, there's no way we'd make any money off the work.
Perhaps you should sue the radio station who says they play the best music.
So, your theory is that our customers were fully aware of our malfeasance and actually were fine with getting screwed by us with each and every FX transaction because we were holding off on executing their orders until they got the worst deal of the day and we got the best deal.
And then when we paid our huge fines our customers said, “well that’s ok . We always knew that that the folks at BONY were crooks.”
Do you want to revise your explanation at all?
Having filed Code RAP I can confirm that it is a career ender at the Bank. For a year I handled the “Why did you leave your former employer” question by recounting my experience filing Code RAP. No surprise that I found a job with an ethical F.I. and couldn’t be happier.
@7fc
$50 million is chump change for a Whistleblower?
And you’re with the bad guys at BNYM who systematically stole from our clients?
What’s wrong with you?
Ok, we’ve apparently just heard from the architect of the massive heist.
For the record,. A former trader from the bank was just awarded a significant whistleblower award. A former trader at Bank of New York Mellon Corp.—who BK -1.76%decrease; red down pointing triangle alerted authorities to the bank’s pattern of overcharging big clients on currency trades—was awarded a $50 million whistleblower payment.
The award, the largest of its type made by the Securities and Exchange Commission, comes more than a decade after the trader, Grant Wilson.
Despite some wag on here who functioned as a loyal Toadie for Sr Mgt’s goals to steal from clients, Grant Wilson is a hero.
@7vqm spewing the FX lies that lawyers used to shake down our company. Those FX customers knew exactly what they were getting and none of them thought they were getting the best rate or the day. That's why none of them left us when the obvious facts were "exposed". Everyone already knew it.
And if the issues reported wouldn't bring a whistle blower much money, then are they really exposing anything important or are they just being Karens?
Likely less than .001% of the code RAP and other ethical situations that are reported rise to a level where a whistleblower would make a lot of money. The last time this occurred here was in the FX scandals where the Bank routinely received the best exchange rates of the day and the clients the worst. In that scandal Senior management was pressuring the workers in a scheme to get more revenue out of foreign exchange than it could produce.
Now if Renyi were still here laundering money through Russia I’d be full time reporting on that link. Weren’t those just the greatest old corruption days ever!
No
that's why you should do it anonymous via the link and not stop doing it
Yeah they always said the same thing about Code RAP & those who’ve filed one know that there is plenty of retaliation, led by HR. The pressure is incredible.
If you are a BNY Mellon employee submitting a report, you are protected from retaliation as long as the report you file is in "good faith". Retaliation against any employee making a "good faith" report will not be tolerated.
They will say none of the reports are in "Good Faith". Several so called CIO's and CEO's at this bank are committing fraud. They hire friends and family and now they are hiring contractors who don't show up, who don't work. They moonlight and steal money. Anyone who speaks up against any CIO or CEO will be laid off and destroyed. Just look up lawsuits against the bank.
@1xde, your career at the bank is small potatoes compared to the compensation you can get as a whistle blower. How much is a whistleblower case worth? A whistleblower of a False Claims Act is supposed to receive15% to 25% of the case value or the amount paid by the defendant if the government intervenes and 25% to 30% if the whistle blower goes at it alone.
Surfacing any ethical issue or crime at the bank is a career destroyer. This applies to any crime or ethical issue that’s worth reporting. It’s destroy the messenger.
Take it from one who has been there.
I know people that used to work in the department that answered that ethics hotline. They downsized drastically a few years back… Go figure.
Ha ha “Doing what’s right “. That ship definitely sailed over 20 years ago.
Yawn. No biggie.