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Allow me to adjust my shock levels that the bank of choice among Mexican drug cartels is caught enabling more fraud with Ponzi schemes. I do wonder the true sc
by 0xy 6y ago
Allow me to adjust my shock levels that the bank of choice among Mexican drug cartels is caught enabling more fraud with Ponzi schemes.
I do wonder the true scale of the ineptitude and corrupt nature of their fraud department is.
- vmception 6y agoThe secret is that Compliance Officers are at-will employees too. https://www.workforcebulletin.com/2012/05/22/new-yorks-at-will-employment-rule-applies-to-compliance-officer-allegedly-fired-for-objecting-to-misconduct/ https://www.workforcebulletin.com/2012/05/22/new-yorks-at-wi...
- cordite 6y agoWhat are the ramifications of this? That they can be fired by saying the company is doing bad?
- vmception 6y agoYes
- A4ET8a8uTh0 6y agoYes, but compliance officers can be conveniently held responsible. Why would you fire a potential scapegoat? Naturally, compliance officer's are by nature risk averse and apply CYA approach liberally.
- vmception 6y agoThey don’t scapegoat the compliance officer.... there is more of an art to avoiding liability than that. The mere presence of a compliance officer checks the box. A compliance officer sounding an actual alarm can get them fired.
- vagy 6y agoRight on spot...let’s not “miss the woods while looking at the tree”