Ethics for Managers

Topic 

Ethics for Managers

Instructions 

Cover Page
Ensure a cover page is attached to the front of your report, showing unit
name, your name, date of submission, and your student ID number.

Abstract (approx. 100 words; not included in word count)
Type a short abstract that briefly describes the purpose of the project, and
what the main findings are.
(You may want to do the abstract once the assignment is done.)

Introduction (approx. 100 words)
This section must cover two main things
(a) a brief introduction and background to the study
For the introduction and background, you must provide a brief introduction to
the reader about the assignment, its relevance and importance etc.

(b) the objectives of the study
You need to clearly state the key objectives (2-3) of the assignment.

Analysis of the case study (approx. 2800 words)
Address the 5 questions provided and discuss CBA from the perspective of
business ethics. You should allocate approximately equal weight to each of
the questions (500 – 600 words per question).

Conclusion (approx. 100 words)
Write a short concluding comment which reminds the reader what the main
purpose of the research was, how you went about addressing the objectives
of the study, what data you used and the main findings were.

Also, write a short paragraph on the main limitations of the study…i.e. what
is/are the main weaknesses of the study which you would like to bring to the
the attention of the readers.

Answer Preview 

The Commonwealth Bank of Australia has faced several ethical issues in the recent past. The main ethical concern that CBA had to deal with involved the alleged facilitation of money laundering through its financial system. The NSW Police arrested CBA’s customers named Mr. Khan and Mr. Shaffi on the suspicious account of money laundering amounting to over $1.7 million deposited into 6 accounts 276 times.  According to a statement of claim filed by NSW police in the Federal Court, CBA expressed no confidence in addressing the matter upon the exposure of the suspicious matter (Eyers, 2017).  For example, a report says that it took CBA two weeks to respond to the email by the NSW Police seeking its response to the arrest of the two customers. According to The Australian Transaction Reports and Analysis Centre (AUSTRAC) CEO, the bank did not conduct its business in a manner that could help in identifying fraudulent or suspicious matters. The AUSTRAC CEO alleged that CBA’s anti-money laundering system detected unusual transactions in the suspects’ accounts on Oct 27, 2014, but the bank took over one month to investigate the matter through its Anti-Money Laundering Team. In addition, the suspicious transactions were highlighted to the CBA Intelligence Team in 2015 but little effort was made to review the matter immediately (Eyers, 2017).

Word Count: 3400