The ethics of confidential information

Wednesday 8 March, 2023
by Anonymous

person with hand to ear listening

You are a loan officer in a bank and a client is trying to get funding for some apartments they have been looking at building. During the process, the client has also managed to discover that the land has been rezoned for both commercial and residential use which increases its value, but also the cost.  This means the client is unable to secure the loan they need.

Although the information is confidential, you have personally been looking for an opportunity and can’t help thinking about these apartments.  

You can get funding approved, but as the loan officer, is it OK for you to purchase knowing this information?

What would you do?

Please share your ethical dilemmas with us - we can post them anonymously. You can email your dilemmas to  dilemma@thebfo.org

Photo by Oleksandr Shchus on istockphoto

Comments

There are 1 comments for The ethics of confidential information.

Re: The ethics of confidential information

Wednesday 15 March, 2023
by IanS
Absolutely not. It doesn't pass the "pub" test. There would be a question as to why the client was turned down but you managed to raise the funds. The mere sniff of impropriety would taint you and your bank. Don't even go there.
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