個案資料
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The Punjab National Bank: The Modi Fraud—System Failure or People Failure?
內容大綱
In February 2018, Punjab National Bank (PNB) in India reported a US$1.8-billion fraud related to the illegal issuance of letters of undertaking. The fraud was engineered by one of the leading diamond jewellers of India, Nirav Modi; his uncle, Mehul Choksi; and employees of PNB’s Brady House branch in Mumbai. Indian investigative agencies found that the previous top management of PNB along with other employees had also been involved in or had prior knowledge about the fraud. PNB's current chief executive officer, Sunil Mehta, was trying to steer PNB out of the crisis. What key challenges did Mehta face with respect to managing the operational risks of PNB? Was Mehta right to consider the fraud a people issue and not a systems issue?
學習目標
The case deals with willfull defaulters and the operational risks associated with banks. It examines how banking frauds are engineered by both the creditor and the buyer. The case explores the ethical intentions of employees, particularly in the Indian banking sector, at all levels. The case is intended for us in an undergraduate- or graduate-level course on business ethics, corporate governance, or management control systems. After completing the case, students will be able to<ul><li>understand the drivers of employees’ unethical behaviour;</li><li>critically analyze the drivers of ethical culture in the banking industry;</li><li>understand the role of co-operation between different banks in preventing fraud;</li><li>understand the meaning of willful defaulter and the ways of recovering loan money from a person guilty of willful default; and</li><li>articulate the reasons for fraudulent behaviour by top management.</li><ul>