I need to post this anon for reasons you will soon understand. I have been placed in a branch where I have witnessed clearly unethical and borderline illegal activity by the Operations Manager of the branch. He has opened accounts for a customer that has a non-cash business that is taking large amounts of cash on a daily basis. An employee of the company who comes in 4-5 times a day said that the reason that they have mulitiple enties set up, is so that they can avoid taxes. They also bring in checks, payable to a person, that have been blank endorsed and deposit them into another enity's account. When I took my concerns to upper management, they said that he is doing nothing wrong. An example is that half an hour after we closed and all of the teller's drawers were put away, this customer called and said he need $5500 in cash and would be there in 5 minutes. When I looked at his accounts, he had $3000.00 between all of them. The operations officer pulled a counter check and withdrew $5500 from his personal account and when the customer was let in the branch, gave the cash to him. There have also been tales that I didn't witness of this operations officer signing counter checks drawn on this busines and taking cash with them.
Here is my question. Since upper managment (head of operations, CFO, CCO) are unwilling to see the potiental problems that could fall on them, where can I report this? I have another job lined up but I am concerned for the tellers/ new accounts people. They are being put in a position that could destroy their careers. Also the board of directors are in danager of losing major money (we are a bank that is only a few years old with 3 branches) if the regulators discover this. No one seems to understand that turning a blind eye to fraud/money laundering will close your bank.
Any advise of what can be done? I am thinking of calling the regulators so that it can be caught in the early stages but don't want it to look like I am doing it be I don't work there anymore. But there are some great young employees who are being told that it is okay to do these things. I don't want to see their reps trashed because of one person.