Wells Fargo faces government probe on anti-money laundering, sanctions
15 replies (most recent on top)
Has financial crimes been outsourced to India? Could be the problem.
Not Officer, rather deputy special agent in charge (retired of course)
Any info on what the actual issues are said to be?
@1utt+1tOoPvG6 Nobody said they're all bad, so no need to get so trigger happy officer. But you pointing out that you have more experience than your manager or theirs does not say good things about FCI here. The directors I work with here have all been hayseeds straight out of Smokey and the Bandit, who could not translate their skills setting speed traps to competently doing their job.
I am one of those, 20+ years of financial crimes investigative experience, more than anyone on my team. More than my manager or his boss. Yes, there are bad managers wherever you go, but to say that former federal LE are all bad is ridiculous. I led domestic and international money laundering cases, how many WF fin crimes people have done that?
Probably related to Global Bill presentment and payment though the third-party hosted app.
Only 1600 people working in Financial Crimes. How could this happen?
Many of us sleep on the job all the time. I don't think it's a big deal.
Charlie should resign or be ousted. Enough is enough.
@naz not everything is some little fable tailored to erode your faith in regulation
@naz+1tOoPvG6 No lmao, the feds aren't dinging us for AML compliance and sanctions stuff because of too much red tape
Places like Wells have a bad habit of hiring ex law enforcement for middle manager roles in financial crimes for the sake of appearances to regulators. They also tend not to have any corporate compliance or management experience, and this is what you get as a result.
No one was sleeping. The weakness was likely pointed out by a poor soul or two who were then ridiculed for questioning the brilliance of the 500 miles of red tape in place to “protect” us.
Someone ask Fargo to fix this
Reality is the do more with less philosophy hadn't been working and has only gotten worse.