Commonwealth Bank for Business Ethics - MyAssignmenthelp.com

Question: Discuss about the Commonwealth Bank for Business Ethics. Answer: The commonwealth bank of Australia is one of the multinational banks of Australia, founded by the Australian government in 1911. In the recent days, various scams and scandals have doomed the glory of the bank. The credit card fraud scam as well as the fraud email scam are some of the most infamous scandals witnessed by the commonwealth bank of Australia. This assignment highlights the ethical considerations that the bank needs to learn in order to resume its glory. The board have identified various ethical learning that the bank needs to consider. These include the employees being honest in their operations. Moreover, the employees should not reveal the sensitive information of the customers (Lodhia 2015). The passwords and the account details of the customers should be kept confidential (Sunstein 2015). Moreover, in case fraud emails are send to the customers from some other sources, then the bank needs to personally inform all the customers (Sunstein 2015). Another ethical consideration in context of credit card is that, the bank should produce a justified bill for the credit card users, and not a bill with excessive amount. These ethical considerations need to be taken by the employees and the board members of the commonwealth bank (Lodhia 2015). Thus, these initiatives will be successful in bringing back the glory of the commonwealth bank Australia. The employee need to be monitored such that they follow the ethical considerations without fail and enhance the reliability of the bank among its customers. Thus, it is concluded that the ethics play a key role in a bank and for every banker. References Lodhia, S., 2015. Exploring the transition to integrated reporting through a practice lens: an Australian customer owned bank perspective.Journal of Business Ethics,129(3), pp.585-598. Sunstein, C.R., 2015. Nudging and choice architecture: ethical considerations.