A former employee of Wells Fargo suspected fraud in the company and reported it to his superiors and the bank ethics hotline. Soon after this was reported his was “let go”. A short time later the company was found to be a huge part of a bank scandal. Thousands of employees were found to have set up bank accounts and credit cards on behalf of customers (1). None of these accounts were authorized by the customers. It was found that employees opened as many as two million accounts (1). At least 5.300 employees were fired for being involved with the bank scandal. The company was forced to pay $185 million to settle lawsuits (1). OSHA is charged with enforcing whistle-blower protections laws (1). OSHA investigated the company for firing the whistle-blower. They found that the former employee “reports of fraud were “at least a …show more content…
The IMA has its own written code of ethics. This code is expected to be followed by all IMA members. IMA’s principles include Honesty, Fairness, Objectivity and Responsibility (3). Members are encouraged to act in accordance to these principals and encourage other colleagues to do the same (3). IMA’s standards include: Competence, Confidentiality, Integrity and Credibility. If a member fails to comply with these standards it could result in disciplinary actions (3). The IMA encourages members to “actively seek resolution” to any unethical issues or behaviors which they encounter (3). Members are encouraged to follow any established policies within his/her business if an unethical issue is encountered. They also offer an anonymous hotline if the business he/she works for doesn’t have any policies (3). Based on the standards and expectations listed above, the former employee of Wells Fargo properly followed IMA’s code of ethics. He first went to his superior and when nothing was done he called the banks anonymous ethics line