Ethical Theories | Case Study

Running head: ETHICAL THEORIES
ETHICAL THEORIES
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ETHICAL THEORIES1
The original and early name of Westpac is the Westpac banking institution that was
initiated in 1817 that is apparently 200 years back from today. The bank is renowned for
facilitating assistance that involves banking and financial services. In addition to that, there are
other services that are functioned by the financial institution, and they come under services such
as corporate banking, investment banking, services of credit cards, mortgages, and also engage
consumer banking (Phat et al. 2016). The headquarter of Westpac bank is located at Westpac
place in Sydney in addition to that they are functioning across worldwide. There are several
controversies that are connected with the bank, and there is the existence of many cases that have
been detected tend to the deprivation of bank value as well as bank image (Laszlo and
Zhexembayeva 2017. The cases concerning money laundering as well as the exploitation of
youth were found and the financial. The institution was held guilty when the cases are considered
by regulators in the country of Australia.
The report insight regarding the case that connected to the ethical concern and financial
institution that encountered by bank and method of resolving through various ethical theories as
well as facilitating recommendation that is rest on ethical issues and theories.
ETHICAL ISSUES
The disagreement between decision making, as well as moral doctrines, the organization,
in addition to that society, can be designated as the ethical concern. There are several ethical
doctrines that the institute be large, small, or medium requirement to monitor as there are

ETHICAL THEORIES2
guidelines set by institution functioning on the market. It is significant that exist transparency in
addition to that confidentiality within work that comes top to the bottom of the hierarchy, as well
as basic autonomy, should be balanced for the purpose of having better stability in addition to
that operation of the institution (Deresky and Christopher 2015). The concern that evolves when
there exists an issue in selecting from substitutes that are presented in the forward-facing as there
exists confusion as well as a deficit of self-assurance in selecting the same. It is significant to
deal with the ethical issues as the same assist in providing the enhanced structure to institutions
also aid the institution in developing in the long term. The higher authorities, management in
addition to that workers should have knowledge as to what involves concerns and the operation
and also establish the action planning accordingly.
There is various ethical concern that is determined by AUSTRAC on behalf of Westpac.
1. There exist instances of child exploitation as well as money laundering on the portion of
Westpac by the AUSTRAC that is “The Australian Transaction Reports and Analysis
Centre.” Then it was observed later on that the issues found and determined were proved
guilty and thus the same impacted in the unhealthy recognition of brand as well aa the
brand worth of the financial institution (Durner and Shetret 2015).
2. There occurs the infringement of the code of performance of banks along with that the
accusation was created on the charge of violating twenty-three million of the statutory
laws by the financial institution that was connected with the alleged scandal. Thus, later
on, it was established that the business worth about $ 11 billion.
3. The cases were observed concerning illegal acts of the department and corporate in the
Australian Transaction Reports and Analysis Centre was established and anticipating that

ETHICAL THEORIES3
the bank to determine the category and method of the business that are dangerous (Noam
2018).
4. The AUSTRAC is appealing that thee exists miscarriage in the portion of the Westpac in
gain access to business that was proper concerning the nation such as South East Asia in
addition to that the location has been designated as the fiscal indicators connected to the
potential danger of the issue of child exploitation.
ETHICAL THEORIES
The fundamental and significant characters of these philosophies are to determine and
examine the matter, which is good as well as evil concerning the bank. The theoretical
principles assist in constructing the structure for making the decision as to the same designate
the viewpoint from which the people initiate making the decision (Strand and Freeman
2015).
There are several practices that are mutual in the transaction, as well as involve
utilitarianism, virtual, deontology ethical theory.
UTILITARIANISM THEORY
This particular ethical theory identifies the matter that is treated to be correct from that of
wrong or negative ones by positioning efforts in the outcomes. It also entails that the actions
are deemed to be right if they proved to be advantageous as well as expedient concerning the
major number, and larger pleasure of larger number must be regulating the doctrine of
behavior.
From the case mentioned above, it has found that Westpac was incapable or miscarried to
transfer the information, which is connected to the initiation of the shift of the deliberate