THE MANAGEMENT ETHICS

Running head: MANAGEMENT ETHICS
Management Ethics
(Westpac)
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Author Note

MANAGEMENT ETHICS
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Executive summary
The Westpac is a popular Australia banking and financial service provider having their headquarters
at Sydney. In this report the case when the CEO of the company, Brian Hartzer was seen to be
pushed out due to the scandal of child exploitation and money laundering is investigated. This
situation has been found to be handled and investigated from the support of the financial intelligence
agency of Australia. The key ethical problems are determined and ethical theories are to be used for
evaluating the key problems are been demonstrated here. After that, a proposal and explanations are
discussed and ethical theories are to be used to denote the ethical issues are identified.

MANAGEMENT ETHICS
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Table of Contents
Westpac:................................................................................................................................................3
Rationale:...............................................................................................................................................5
Recommendations:................................................................................................................................7
References:............................................................................................................................................9

MANAGEMENT ETHICS
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Westpac:
The “Westpac Banking Corporation” also referred to as Westpac is a leading bank and
financial service provider from Australia. Their headquarter lies at Westpac place located at Sydney.
The following study demonstrates the case when the CEO of the company named Brian Hartzer
pushed out due to the scandal of child exploitation along with first causality related to money
laundering. The case was handled and investigated by financial intelligence agency of Australia. For
this, the key ethical issues are to be determined and ethical theories are to be used for assessing the
primary issues. Then the report includes the suggestion and justification and ethical theories that are
beneficial for the identification of ethical issues. .
The chief executive of Brian Hartzer is seen to be resigning. Lindsay Maxsted, the chairman
stepped down the early after the scandal of money-laundering including allegations. This involved
the fact that bank has failed to stop transactions with Philippines that included exploitations of
children. He has paid about 2.60 million dollars for performing nothing for the upcoming twelve
months serving out the notice period. This has been revealed by Westpac during an announcement
done to ASX. It is declared that he would not be getting the short-term bonus and might lose the long
term ones that are not vested already (Fargher 2019). Already pressure has been mounting on
Maxsted and Harzer for quitting as the agency of financial intelligence named Austrac launched the
legal steps for accusing bank above 23 million breaches of the anti-money laundering and the
financial laws of counter-terror for more than 11 billion dollars in the transactions (Hoskin-Murray
2020).
The scandal of Westpac involved the twelve year girl that faced sexual exploitation online
along with lax financial regulations. Here, the most harmful allegation was across the alleged failure
for monitoring customers to send money to the nation of Philippines and additional places to south