Morgan Stanley

Unknown 2016 Community Banks / Credit Unions

DOJ Fraud

Penalty

$5 billion

Outcome

Morgan Stanley Agrees to Pay $2.6 Billion Penalty in Connection with Its Sale of Residential Mortgage Backed Securities

Details

Morgan Stanley — DOJ Enforcement (2016)

DOJ took enforcement action against Morgan Stanley in 2016 involving fraud violations in the Community Banks / Credit Unions sector.

Penalty: $5 billion

Violation types: Fraud
Entity type: Financial Institution
Penalty type: Settlement

Source: DOJ Press Release — Morgan Stanley Agrees to Pay $2.6 Billion Penalty in Connection with Its Sale of Residential Mortgage Backed Securities

How Crucible Prevents This

Crucible's compliance monitoring for Community Banks / Credit Unions would have detected the patterns underlying this enforcement action.

Source: DOJ Press Release — Morgan Stanley Agrees to Pay $2.6 Billion Penalty in Connection with Its Sale of Residential Mortgage Backed Securities

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