A Corrupt Business World

Business in the modern era is constantly changing with many technological advancements. Many large businesses are flourishing due to the newer and innovative products they are selling. Large business firms are becoming more dominant with the changing market as well. Since the growth of these large businesses is phenomenal, there lies some questions as to whether or not they are achieving their success ethically and legally. Through research, I concluded that there is some fishy business going on in these larger companies.

One prominent recent example of corruption in business is depicted through the Purdue Pharma Opioid Crisis. Purdue Pharma and other drug companies overprescribed the use of opioids which led to hundreds of thousands of deaths as a result of overdoses and addiction. This caused Purdue pharma to generate a large amount of income and was basically a large scale scam against the US. It took many years to figure out this scam, but Purdue pharma was eventually brought to justice, having to pay 8.3 billion in fines. The fact that it took many years to put one large company to justice is saying something about the business world in the modern era. Just imagine how many other large companies are roaming around performing unethical and illegal activities free of any lawsuits.

Another example on an international scale is the FinCEN Files investigation on Deutsche Bank in Germany. Deutsche Bank was an international bank that was involved with drug cartels and crime bosses. Small business owners across the world sometimes found large amounts of their money vanish as the bank embezzled it. The Deutsche Bank overall laundered about 10 billion from clients at the bank. The whole scandal eventually broke out and received attention from countries across the world. The Bank of America found the issue troubling and stepped in to investigate it. The FinCEN files investigation looked at all suspicious activity reports in the bank and clearly showed that the top officials of the bank had knowledge of everything that was going on under the noses of so many people. During the time period of 2012 to 2015, there was Russian scandal where many notorious gangs and criminals got away with lots of money for their operations. After the bank and their corrupt officials were caught, they had to pay hefty fines to pay for everything they did. This is one of the largest forms of corruption in the business world that will leave a very bad reputation on the bank for many years.

All in all, these are two historical examples of how the business world is corrupt on both a national and international scale. In the modern era, I strongly feel as though many businesses will do whatever it takes to achieve success, whether it be stealing money from it's clients or over prescribing medicine. Corruption will always be there in the business world, but putting the large companies that are causing the most problems to justice is crucial. Just imagine if you had a random large amount of money taken out of your bank account and there was no explanation. Would you be willing to put up with this?