Morgan Stanley documents show weak anti-mondey-laundering controls, WSJ says

Morgan Stanley’s (MS) wealth-management division represents close to half of the company’s total revenue and has been a crucial source of profits but has also seen a high number of accounts used for money laundering funds, AnnaMaria Andriotis of The Wall Street Journal reports. A new cache of internal documents as well as interviews with nearly 20 current and former employees and executives illustrates the operations of the bank that appear to fall short of regulatory standards for anti-money-laundering controls.