FOR EXCELLENCE AND QUALITY SERFVICE!!
CAS3701
ASSIGNMENT 15
DUE DATE 18 AUGUST 2023
1. Identify and explain the business and professional ethical dilemmas evident from the
scenario presented?
From the scenario presented, there are several business and professional ethical dilemmas
evident:
• Incomplete Due Diligence: The first ethical dilemma is the incomplete due diligence test
conducted on Mr. Robert Caesar, a high-profile individual with a political background.
The company, Property Invest Ltd, has a policy in line with the FIC Act that emphasizes
the importance of performing due diligence tests on clients, especially to determine the
source of their funding for property purchases. By bypassing the due diligence test and
proceeding with the property transfer, the company is potentially exposing itself to
involvement in illegal schemes such as money laundering.
• Association with Potentially Unethical Clients: Engaging in business transactions with
individuals under investigation for embezzlement raises ethical concerns. Property
Invest Ltd is a trusted brand in the property industry and frequently deals with high-
profile clients, including celebrities and politically exposed persons (PEPs). Associating
with clients facing such allegations may damage the company's reputation by
association and raise questions about its commitment to ethical conduct.
• CEO's Override of Company Policy: The CEO, Mr. Nooks, bypassed the company's policy
and FIC Act requirements by authorizing the sales transaction without completing the
due diligence test. This raises an ethical dilemma as it goes against established
procedures and regulatory requirements designed to ensure compliance with anti-
money laundering and fraud prevention measures.
CAS3701
ASSIGNMENT 15
DUE DATE 18 AUGUST 2023
1. Identify and explain the business and professional ethical dilemmas evident from the
scenario presented?
From the scenario presented, there are several business and professional ethical dilemmas
evident:
• Incomplete Due Diligence: The first ethical dilemma is the incomplete due diligence test
conducted on Mr. Robert Caesar, a high-profile individual with a political background.
The company, Property Invest Ltd, has a policy in line with the FIC Act that emphasizes
the importance of performing due diligence tests on clients, especially to determine the
source of their funding for property purchases. By bypassing the due diligence test and
proceeding with the property transfer, the company is potentially exposing itself to
involvement in illegal schemes such as money laundering.
• Association with Potentially Unethical Clients: Engaging in business transactions with
individuals under investigation for embezzlement raises ethical concerns. Property
Invest Ltd is a trusted brand in the property industry and frequently deals with high-
profile clients, including celebrities and politically exposed persons (PEPs). Associating
with clients facing such allegations may damage the company's reputation by
association and raise questions about its commitment to ethical conduct.
• CEO's Override of Company Policy: The CEO, Mr. Nooks, bypassed the company's policy
and FIC Act requirements by authorizing the sales transaction without completing the
due diligence test. This raises an ethical dilemma as it goes against established
procedures and regulatory requirements designed to ensure compliance with anti-
money laundering and fraud prevention measures.
