|Industrial and Commercial Bank of China (ICBC).|
According to the theory of Individualism, the only goal of any business is to profit and to maximize the profit of shareholders all within rules and limits of the law. It could be argued that Bank of China wasn't causing the laundering. While it was a short group of clients that were employed in Bank of China, This was still against the law as you can't launder money, and this caused Bank of China to face a lawsuit that most likely caused it to lose thousands of money as well as hours of time and business to return all the money back to where they were original supposed to be and to fix the problem with the accounts that were tampered with. Wang Jing, as well as everyone else, didn't do it for business or to increase profit for shareholders. Instead, they did it for themselves. To get extra money then send it over to people all the way in Spain for the sake of a few extra sales and to avoid taxes. In the end, all it did was it got everyone arrested, got multiple customers involved and ruined their business, and caused damage to the economy because of the lost money that were send to Spain. People were hurt by this and they have nothing to show for except for the fact that they are in jail, out of a job, and the people in Spain ended up getting nothing. This is far from counting as individualism since it didn't involved doing better for the business.
|Spanish police doing their arrest.|
|Spanish police investigating.|
Aristotle's Virtue Theory are the normative ethical theories which emphasize virtues of mind and character. Virtue tends to be viewed as positive traits that individuals thrives to get or already have. They are thus defined from single actions or feelings. Going down the list of virtues, Wang and the clients had courage for the reason that they did laundering, something that is considered illegal and would have gotten them in trouble if ever found out. Temperance, they had all that money at their disposal, yet they didn't kept any for themselves and continued to send all of them to Spain. Liberality, they didn't have it for the reason that there were other, safer ideas for them to make the money that they needed to send to Spain. Instead they did something illegal. No truthfulness to be found for the sole reason that Wang and the clients went behind Bank of China as well as the customers and use their accounts for the purpose of sending over money that didn't belong to them in the first place. Their friendliness was only a front for the customers to make sure that they didn't suspected anything. They were nice to each other only because they were stuck together in the crime. Not all information about the case is open to the public, so knowing how modest Wang and the client acted after they had been found out is unknown.
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Angus Berwick, D. L. (2017, September 11). Spain probes ICBC's European unit over money laundering. Retrieved from Reuters: https://www.reuters.com/article/us-icbc-spain-investigation/spain-probes-icbcs-european-unit-over-money-laundering-idUSKCN1BM2CV
Chinese bank accused of helping money laundering in Spain. (2017, September 11). Retrieved from APnews: https://www.apnews.com/28930546f6ac40579731b14ec46f27d1
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