Ethics has been the most discussed topic in the news recently; also, the ethical issues have increasingly been at the forefront of numerous businesses and banking for several years. Sometimes, it may seem like our society has become very tired of these ethical dilemmas. However, it is still likely that there are more problems which have an involvement of ethics, which also means that there is still much more to be learned from a myriad of events that also involves ethical questions. While the banks do not actually have a monopoly on these matters, there are frequently very higher built-in behavioural expectations for the bankers that will make their ethical lapses slightly more visible and much controversial than the past. You can learn more about the banking sector by attending Audiosolutionz’s banking conferences.
Whenever the individuals are held responsible for managing really large amount of money (as bankers clearly are), there can also be temptations that will take advantage of the situation as in a number of cases, there are numerous governing laws and regulations, which also prescribe what is legal and what is not, but the ethical guidelines are often quite less formal and very rigid. In fact, this blatant lack of specificity is the reason behind an ethical dilemma in the first place. For instance, if a bank employee has found themselves asking certain questions like the following, we should not be surprised at all about what follows is the later referred to as a clear teaching moment:
- Should I actually tell anyone about this?
- So, is this really wrong?
- Could I get into trouble by doing this?
- So, is this illegal or just unethical?
So, the final and obvious hypothetical question (Is it illegal or merely unethical?) does involve a lot of troubling distinction that is made in case, they are confronted by a grey area which is seemingly very legal but still very much questionable. So, it is true that in most of the cases, ethical violations can also be viewed as something which is illegal, but most of the times, many unethical acts might also be technically legal.