Morgan Stanley Leak: 25% of Ultra-Wealthy Clients Flagged

A Wall Street Journal investigation revealed that 24% of Morgan Stanley's international wealth-management accounts are flagged as high risk for money laundering, highlighting the bank's weak anti-money-laundering controls. This raises concerns about the ultrarich exploiting loopholes in financial systems. The issue of money laundering is widespread, with significant increases in Europe, and other banks like TD Bank have also faced penalties for similar failures.