Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
EY breach notifications reveal Goldman Sachs and Man Group clients among data breach victims
Issue disclosure
Notifications sent out in recent weeks reveal that clients of Goldman Sachs' wealth management division and UK-listed hedge fund Man Group are among the victims of a data breach at accounting firm EY. The breach stemmed from a hacking incident in March and April that EY first disclosed in July, originating from a vulnerability in Checkmarx software that affected EY, several clients and many other organisations.
Company response
Ongoing disclosure — EY
according to notifications sent out in recent weeks
Clarification — Goldman Sachs
The bank's systems weren't affected by the attack, a Goldman spokesperson said in an emailed statement, adding that client assets weren't impacted and "remain safe."
Source excerpt
The disclosures widen the circle of victims of a hacking incident in March and April that the accounting firm first disclosed in July. It stemmed from a vulnerability in Checkmarx software which affected EY, several clients and many other organisations, the firm said.
Clients of Goldman Sachs’ wealth management division and UK-listed hedge fund Man Group are among the victims of a major data breach at big four accounting firm EY, according to notifications sent out in recent weeks.
The bank's systems weren't affected by the attack, a Goldman spokesperson said in an emailed statement, adding that client assets weren't impacted and "remain safe."
2020
1MDB bribery case
Goldman Sachs reached settlements with authorities concerning its role in bond offerings for Malaysia’s 1MDB development fund and related bribery allegations. The case resulted in substantial penalties and scrutiny of the firm’s controls and conduct.
2020
Goldman Sachs settles dispute with Malaysia over 1MDB bond business
Settlement
Goldman Sachs and the Malaysian government reached a settlement over the legal dispute arising from Goldman Sachs' bond work for 1MDB. The agreement provides for approximately $3.9 billion in compensation, including cash and assets to be recovered. Malaysia's finance minister said the agreement represented Goldman Sachs' acknowledgment of misconduct by former employees.
Source excerpt
扎尔夫指，此项和解协议代表高盛集团承认其前雇员在一马公司相关事件中的不当行为。
中新社吉隆坡7月24日电 马来西亚财政部24日宣布，美国高盛集团和马来西亚政府已就该集团替“一个马来西亚发展公司”(一马公司)发行债券而与马来西亚政府产生的法律纠纷达成和解协议。
根据此协议，高盛集团将向马来西亚政府赔偿约39亿美元。
2020
Ten banks sued over alleged corporate bond market price coordination
Lawsuit filed
A class action lawsuit was filed in Manhattan federal court against ten banks, including JPMorgan Chase and Bank of America, alleging that they conspired over nearly 14 years to manipulate prices in the $9.6 trillion corporate bond market. These are allegations in the complaint, not a court finding.
Source excerpt
周二在曼哈顿联邦法院提起的集体诉讼称，这些银行自2006年8月以来违反了反垄断法，在“零股”交易中向投资者收取过高费用。
摩根大通和美国银行在内的10家全球最大银行，于当地周二在曼哈顿联邦法院被起诉，因其涉嫌在近14年时间里串谋操纵9.6万亿美元公司债市场的价格，令普通投资者损失数十亿美元。
2019
Goldman Sachs faces backlash over Helixmith outlook change
Public backlash
Goldman Sachs faced backlash from Helixmith and individual investors after changing its outlook on the Korean biopharmaceutical firm and sharply lowering its target price. Some investors suspected the change was aimed at facilitating short selling; the article presents this as suspicion, not an established finding.
Source excerpt
Goldman Sachs has drawn a severe backlash from Helixmith and individual investors, after it flip-flopped on its outlook for the Korean biopharmaceutical firm, dragging down its target price sharply, according to industry officials, Monday.
2019
Goldman Sachs responds to Apple Card discrimination allegations
Company response
Goldman Sachs responded to allegations that men received higher Apple Card credit limits than their wives. According to the report, Goldman Sachs said applicants are evaluated independently using factors including income, creditworthiness, credit scores, and debt. The allegations are reported; the article does not establish that discrimination occurred.
After allegations that men received higher Apple Card credit limits than their wives, Goldman Sachs said applicants are evaluated independently using income, creditworthiness, credit scores, debt, and other factors. The allegations are reported; the article does not establish that discrimination occurred.
Company response
Clarification — Goldman Sachs
Goldman said Apple Card applicants are evaluated independently, using income, creditworthiness and other factors including personal credit scores and personal debt.
Source excerpt
Goldman Sachs is responding following some high profile allegations concerning gender discrimination involving the Apple Card.
Goldman said Apple Card applicants are evaluated independently, using income, creditworthiness and other factors including personal credit scores and personal debt.
Both Apple co-founder Steve Wozniak and entrepreneur and web developer David Heinemeier Hansson made the allegations saying they each were allowed credit limits that were many times larger than those given to their wives.
2019
New York regulator announces investigation into Goldman Sachs’ credit card business
Investigation
A spokesperson for the New York Department of Financial Services said the regulator would investigate Goldman Sachs’ credit card business to determine whether its credit-limit decisions violated state law. The announcement followed an allegation by David Heinemeier Hansson that the Apple Card algorithm gave him a much higher credit limit than his wife despite her higher credit score.
Stated objective. Determine whether the credit-limit decisions violated New York law and ensure consumers receive equal treatment regardless of gender.
Source excerpt
“我们将展开调查，以确定这是否违反了纽约州的法律，并确保所有消费者能不分性别得到平等对待，”纽约金融服务管理局（New York department of Financial Services）局长Linda Lacewell的发言人说
Hansson没有透露两人任何具体的收入相关信息，但表示他们共同提交了纳税申报单，而且他妻子的信用评分更高。
华尔街监管机构将对高盛集团（Goldman Sachs Group Inc．）的信用卡业务展开调查，此前一位科技业企业家称在确定信用卡额度时，Apple Card的算法存在性别歧视。
2019
Goldman Sachs sued over 401(k) plan management
Lawsuit filed
Goldman Sachs faced a lawsuit alleging that it breached its fiduciary duty by placing underperforming proprietary mutual funds in its 401(k) plan. The allegations are claims in the lawsuit, not findings described in the article.
Stated objective. To determine whether Goldman Sachs violated its duties in connection with the 1MDB scheme.
Source excerpt
The Goldman Sachs Group is facing a lawsuit that accuses the company of breaching its fiduciary duty by filling its 401(k) plan with underperforming proprietary mutual funds.
A New York City police pension fund is suing Goldman Sachs to obtain corporate records to determine whether the firm violated its duties in connection with a Malaysian fraud and money-laundering scandal.
The complaint was filed with The Delaware Court of Chancery on behalf of The Sergeants Benevolent Association Annuity Fund.
2012
Public criticism over client-interest culture
A former executive’s public opinion article criticized Goldman Sachs’s internal culture and alleged that employees were encouraged to prioritize firm revenue over client interests. The article generated extensive public and media debate, although the allegations were contested.
2010
Abacus 2007-AC1 regulatory case
U.S. regulators alleged that Goldman Sachs had inadequately disclosed the role of a hedge fund involved in selecting assets for the Abacus 2007-AC1 synthetic collateralized debt obligation. Goldman Sachs reached a settlement with the Securities and Exchange Commission; the episode became one of the most prominent post-crisis controversies involving the firm.