A Report on Ethical Issues: Commonwealth Bank's Conduct Analysis
VerifiedAdded on 2023/04/26
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Report
AI Summary
This report analyzes the unethical business practices within the Commonwealth Bank in Australia, focusing on the money laundering scandal reported by the Royal Banking Commission. The report summarizes findings from a “Hutchens Guardian News 2019” article, highlighting the bank's response to allegations and the ineffective organizational culture despite leadership changes. Key issues identified include terrorism financing, money laundering, communication gaps, and negligence in reporting incidents. Recommended solutions draw from the National Australian Bank's (NAB) approach, emphasizing strategic operational planning, effective risk management, and ethical business practices. The report also touches on ethical decision-making processes, highlighting the importance of utilitarianism and justice in addressing such issues. Ultimately, the analysis underscores the Commonwealth Bank's failures in recognizing criminal activities and suggests adopting NAB's framework for better regulation compliance and ethical conduct. Desklib provides students access to similar solved assignments and study resources.
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