Ethical Issues And Implications Of Information Technology Use For Financial Corporations As It Relates To Identity Theft
...to Identity Theft
The use of various forms of information technology is rapidly becoming the standard across many businesses and industries in our now globally-oriented society. With its ever-increasing prevalence comes the critical need for businesses and management to consider the associated potential ethical problems that can – and often do – arise. Moreover, as a result of the growing presence of technology, the corporate world must pay close attention to the numerous and broad-spanning implications that are sure to impact all businesses, their management, and their overall business practices.
The financial industry is especially prone to such effects of information technology, as technology has transformed in such a way that it is often the driving force behind the major successes, failures, and changes within that sector. The issue of identity theft, in particular, is one of the biggest problems facing the financial industry now, and organizations within this sector continue to wrestle with the ethical decisions and corporate implications that surround the use of information technology to combat identity theft [Walters, 2001].
Ethics, alone, is difficult to define since it spans many gray areas and has an infinite number of varying interpretations. From a broad perspective, ethics refers to the standards of what is right and wrong that help to prescribe what humans should and should not do. In the corporate realm, the concept of ethics grows even more complex and ambiguous, as it involves the values, opinions, and actions of a firm’s employees. Moreover, ethics influences many business decisions, so it is essential that models of proper decision-making backed by exemplary ethical standards flow from the top down in any organization [Preston, 1998]. Faced with the demands of a fast-paced society and an often changing business landscape,...
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