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Business Ethics, 2nd Edition by A. C. Fernando

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Case Study-1

MPHASIS CASE: IF INDIVIDUALS DO NOT COMPLY, SAFEGUARDS ACHIEVE LITTLE1,2,3

In April 2005, India woke up to its first reported BPO scam. As the authorized e-banking service providers to Citibank, MphasiS–MsourcE, handles confidential details of various account holders of Citibank. Five employees of MsourcE (the BPO arm of MphasiS BFL), unit supervisor Maurelene Fernandes, Bijoy Alexander, and former customer care executives Ivan Thomas, Siddhartha Mehta and Stephan Daniel are said to have identified glaring loopholes in the MphasiS system, devised a modus operandi to siphon off funds, roped in friends like John Varghese, from outside and executed the fraud over four months. They allegedly pulled off a financial fraud worth nearly ...

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