Let’s cut the crap right from the start. Manulife Financial Corporation – that gleaming Canadian insurance giant with its tentacles wrapped around the globe – isn’t just another faceless corporation peddling policies and promises. No, this is a machine that’s been grinding through scandals, lawsuits, and outright fuck-ups for decades, leaving a trail of pissed-off customers, fined regulators, and shattered trust in its wake. From privacy breaches that expose your most intimate details to exclusive deals that screw over the sick and vulnerable, Manulife’s history reads like a rap sheet from hell. And just when you think it couldn’t get any shadier, you dig a little deeper and find them cosied up with companies that have their own twisted take on ethics. This isn’t some polished corporate bio; this is the raw, unfiltered truth about a company that’s mastered the art of profiting from pain.

Privacy Nightmares: Your Data, Their Playground

Imagine handing over your life’s secrets – bank details, health records, social insurance numbers – only for them to stash it in some dodgy third-party barn like it’s yesterday’s rubbish. That’s exactly what happened with Manulife Bank in 2023, when a whistle-blower blew the lid off their so-called “Databarn” storage setup. Thousands of customers’ private info left hanging out there, ripe for the picking by any hacker with half a brain. The company denied any actual breaches, but come on – if you’re not securing shit properly, you’re inviting disaster. And let’s not forget the Reddit rants from users screaming about dormant account scams and mishandled SIN numbers. It’s not just incompetence; it’s a blatant disregard for the people who keep their coffers full. How the hell do you sleep at night knowing you’ve turned personal data into a liability?

Anti-Competitive Shenanigans: Locking Out Choice for Profit

Fast forward to 2024, and Manulife pulls one of the most tone-deaf moves in recent memory: an exclusive deal with Loblaw-owned pharmacies for specialty drugs. We’re talking life-saving meds for rare diseases, now funnelled only through Shoppers Drug Mart. Patients? Screwed. Choice? Gone. Competition? What competition? The backlash was swift and furious, forcing a humiliating U-turn, but not before exposing the cosy ties between insurers and retail giants. This wasn’t a one-off; back in 2004, they coughed up a million bucks to the US Department of Justice for antitrust violations in a reinsurance deal. It’s like they’re addicted to cornering markets, damn the consequences. Outraged? You should be – this is capitalism at its most predatory, where the sick pay the price for corporate greed.

Regulatory Slaps and Financial Foul Play

Manulife’s dance with regulators is a tango of fines and finger-wagging. In 2017, they got hammered with a $1.2 million penalty from FINTRAC for anti-money laundering screw-ups – failing to report suspicious transactions because, apparently, “administrative errors” are an excuse. Then there’s the 2004 mutual fund trading scandal, where they and their US arm, John Hancock, got subpoenaed in a probe over dodgy practices. These aren’t minor blips; they’re systemic failures that scream incompetence or, worse, indifference. And don’t get me started on the international front – Vietnam in 2023 saw thousands complaining about deceptive life insurance sales through banks, with Manulife forking over $34 million in repayments amid forgery allegations. Losses in the hundreds of millions, and they’re still operating like nothing happened. It’s infuriating how these giants shrug off accountability while raking in billions.

Global Missteps: From Asia to Everywhere Else

Manulife’s scandals don’t stop at borders; they export them. In China, their Sinochem joint venture faced whistleblower accusations of bribery and executive fund misuse in 2020. Singapore? A former rep got banned for 12 years in 2024 after scamming 25 victims out of over S$1.2 million in fake investments. Indonesia in 2001? A $400 million lawsuit over fraudulent shares. Japan in 2000? The head of their JV resigns amid scandal. It’s a pattern: expand aggressively, cut corners, and let the fallout hit the locals. In Vietnam, it’s mis-selling; in the UK, Netherlands, India – bribery and fraud whispers everywhere. This isn’t globalisation; it’s a plague of poor ethics spreading like wildfire.

Lawsuits Galore: The Endless Courtroom Circus

If Manulife had a loyalty programme for lawsuits, they’d be platinum members. Securities class actions in the 2000s and 2010s alleged misrepresentation of risks, leading to investor losses and settlements like the $69 million pay-out in 2017 – all without admitting fault, of course. The Mosten Investment saga from 2016-2021? A hedge fund crying foul over unlimited deposits into policies, dubbed a “Trojan Horse” case, but courts sided with Manulife. Then the TTC benefits scam in 2017, where they got sued over $5 million in fraudulent health claims – think dodgy Viagra prescriptions. Disability denials? A staple, with cases of fraudulent concealment and rescinded retirements. The Leonard class action in 2022? Settled in BC Supreme Court. Violation Tracker tallies over $214 million in consumer protection penalties and $45 million in insurance violations across 22 records. It’s a barrage of legal battles that drain resources and erode faith, yet they keep chugging along.

Executive Antics and Internal Rot

At the top, it’s no better. CEO Roy Gori’s 2020 rap video spoof? Deemed offensive by staff, prompting an apology that’s as cringeworthy as the original. Failure to disclose court cases in 2018 sparked investor backlash for lack of transparency. Misleading statements on risk management in 2009 led to suits against execs. Subsidiaries like John Hancock share the shame – long-term care claim issues, mutual fund probes. And those joint ventures? Bribery in China, fraud in Indonesia. It’s a leadership that’s either clueless or complicit, hiding behind apologies while the rot festers.

Customer Horror Stories: The Real Victims

Dig into forums like Reddit, and it’s a cesspool of complaints: fraudulent charges ballooning from $54 to $54,000, denied claims despite doctor sign-offs, mis-sold investment-linked policies leading to massive losses. People calling it a straight-up scam. Their own fraud centre warns of imposters using Manulife’s name for fake GIC offers. Denying coverage for drugs like Wegovy or Mounjaro? Pension access issues for activists? It’s endless. These aren’t abstract stats; they’re real people getting fucked over by a system designed to protect profits, not policyholders.

The Cummins Connection: Ethics? What Ethics?

Speaking of questionable bedfellows, let’s confirm: yes, Manulife is indeed an investor in Cummins Inc., the US engine maker. As of late August 2025, The Manufacturers Life Insurance Company holds 286,359 shares, valued at around $89.76 million. That’s no small stake. Now, Cummins? They’re the outfit that got slapped with a record $2 billion fine in 2019 for emissions cheating – installing defeat devices on diesel engines to skirt environmental regs, much like the Volkswagen dieselgate fiasco. Polluting the planet for profit, and here comes Manulife, parking nearly $90 million in their stock. Is this just another link in the chain of the Cummins ecosystem’s “alternative” ideas on ethical behaviour? You bet your arse it is. When a company like Manulife, already drowning in its own scandals, aligns with polluters who game the system, it begs the question: where does the moral compass end? Or does it even exist in these boardrooms?

Wrapping Up the Wreckage

Manulife isn’t just flawed; it’s a festering wound on the financial landscape. From data disasters to deal-making debacles, regulatory raps to relentless lawsuits, this is a corporation that’s prioritised profit over people at every turn. The global reach amplifies the damage, turning local screw-ups into international outrage. And with investments in ethically dubious players like Cummins, it’s clear: this isn’t aberration; it’s the business model. Time to wake up and demand better – or better yet, take your money elsewhere. Because if history’s any guide, Manulife won’t change until they’re forced to.

Lee Thompson – Founder, The Cummins Accountability Project

Shareholder Spotlight : Manulife’s Dirty Laundry – A Legacy of Lies and Let-downs