Values and Ethics in Fintech: A 2026 Reflection on Integrity, Accountability, and Ethical Vigilance
![]() The call for principled conduct in the fast‑moving world of digital finance has only grown more urgent with notable financial failures on the newspaper headlines. For the past few years, the fintech landscape has expanded at an extraordinary pace, but so have the ethical vulnerabilities that accompany it. Recent high‑profile cases of data breaches, internal theft, and employee‑driven embezzlement make it clear that ethical failures are no longer hypothetical risks; they are real, costly, and profoundly damaging. Recent Ethical Failures in Fintech and Corporate Technology 1. The 2022 FTX Bankruptcy & Collapse in November 2022, it was revealed that customer funds, amounting to billions of dollars, had been improperly diverted to Alameda Research, a trading firm closely tied to FTX’s leadership. This diversion was part of a broader pattern of commingling assets, weak or nonexistent internal controls, and misleading representations about the company’s financial health to the detriments of the respective investors, clients, and users. (TokenTax, 2026). The employee’s actions breached PMI’s principles of Honesty, Fairness, and Respect, while also highlighting the organization’s insufficient internal controls. 2. The 2024 PayPal Credential‑Stuffing Incident in December 2024, PayPal experienced a credential stuffing attack that compromised 35,000 user accounts. Hackers accessed sensitive information such as names, birthdates, and social security numbers by exploiting reused passwords across multiple accounts. The incident highlights the critical need for businesses to adopt advanced security measures like password less authentication (Security Boulevard, 2025). This failure to act proactively reflects a lapse in Responsibility and Respect for stakeholders whose financial well‑being depends on robust security. Ethical Implications and the Need for Stronger Decision Frameworks Across these incidents, the common thread is not merely technical vulnerability—it is ethical vulnerability. Whether through negligence, insufficient oversight, or deliberate misconduct, these failures demonstrate the consequences of ignoring foundational ethical principles. The PMI Code of Ethics and Professional Conduct (v8) provide a clear compass for navigating such challenges. Its four core values—Responsibility, Respect, Fairness, and Honesty—are directly applicable to fintech environments where decisions can have immediate and far‑reaching impacts on customers, markets, and society. To operationalize these values, organizations should adopt the PMI Ethical Decision‑Making Framework (EDMF v8). The EDMF offers a structured approach to evaluating dilemmas, identifying stakeholders, assessing risks, and selecting actions that align with ethical principles rather than short‑term convenience or pressure. A Call to Action Fintech professionals, project managers, and corporate leaders must recommit to ethical vigilance. This includes:
What keeps you, a project practitioner, up at night? Let us deliberate on the finer points of project management. References Project Management Institute. (2025 November). PMI Code of Ethics and Professional Conduct. pmi.org. https://www.pmi.org/-/media/pmi/documents/public/pdf/ethics/pmi-code-of-ethics.pdf. Project Management Institute. (2025 November). PMI Ethical Decision Making Framework. pmi.org. https://www.pmi.org/-/media/pmi/documents/public/pdf/ethics/ethical-decision-making-framework.pdf. Security Boulevard. (2025, April). Understanding Credential Stuffing: A Growing Cybersecurity Threat. Securityboulevard.com. https://securityboulevard.com/2025/04/understanding-credential-stuffing-a-growing-cybersecurity-threat/. TokenTax. (February 2026). The FTX Collapse: A Complete Guide. tokentax.co. https://tokentax.co/blog/ftx-collapse. |
What is new in PMBOK 8 – An ethics perspective
Categories:
Ethics as a competence,
Values,
Behavior,
values,
code of ethics,
Ethical Leadership,
Decision-making,
Ethics Insight Team,
Ethics Bistro,
Business Ethics,
code of conduct,
PMI Talent Triangle,
Ways of Working,
Decision-making,
Values,
Business Ethics,
AI,
Project,
PMI Program Management,
Do the right thing,
Culture,
Ethical Dilemma,
respect,
Professional Responsibility,
Professional Conduct,
Honesty,
Respect,
Responsibility,
Project Management,
Code of Ethics and Professional Conduct,
honesty,
responsibility,
professonal conduct,
volunteers,
professional conduct,
Digital Transformation,
Ethics in Communication,
Agile,
Leadership,
Decision Making,
Ethics,
Diversity,
Organizational Project Management,
Information Technology,
Organizational Culture,
Governance,
Artificial Intelligence
Categories: Ethics as a competence, Values, Behavior, values, code of ethics, Ethical Leadership, Decision-making, Ethics Insight Team, Ethics Bistro, Business Ethics, code of conduct, PMI Talent Triangle, Ways of Working, Decision-making, Values, Business Ethics, AI, Project, PMI Program Management, Do the right thing, Culture, Ethical Dilemma, respect, Professional Responsibility, Professional Conduct, Honesty, Respect, Responsibility, Project Management, Code of Ethics and Professional Conduct, honesty, responsibility, professonal conduct, volunteers, professional conduct, Digital Transformation, Ethics in Communication, Agile, Leadership, Decision Making, Ethics, Diversity, Organizational Project Management, Information Technology, Organizational Culture, Governance, Artificial Intelligence
![]() Imagine a team of explorers crossing a desert. No matter how skilled its members are or how modern their vehicles are, they may not succeed in reaching their destination without a compass. In project management, ethics serve as that compass, guiding decision-making, fostering trust, and ensuring accountability. For PMI Members, the compass is the Code of Ethics and Professional Conduct. Developed even before the first edition of the Project Management Book of Knowledge, the Code was and remains the holder of the guardrails of the project management profession. PMBOK 7 replaced knowledge areas with performance domains. The 8th is more aligned with the Agile delivery approach, whilst retaining the importance of good governance. Like the previous version, the PMBOK highlights alignment with both internal and external environments. It is important to note the focus on artificial intelligence and sustainability. Principles of project management PMBOK 8 simplified the 12 principles from the 7th edition to create a more focused and actionable foundation for modern project management. The principles of project management are aligned with the values of PMI’s Code of Ethics and Professional Conduct. They do not follow the same format, and they are not duplicative; rather, the principles and the Code of Ethics are complementary. ·Adopt a holistic view: Consider the project within its larger organizational and ecosystem context. ·Focus on value: Prioritize delivering tangible value and aligning project outcomes with strategic goals. ·Embed quality into processes and deliverables: Integrate quality throughout the project lifecycle, not just as a final check. ·Be an accountable leader: Take ownership and responsibility for the project's success and outcomes. ·Integrate sustainability within all project areas: Include environmental and social considerations in project work. ·Build an empowered culture: Foster a project environment that empowers team members. Enterprise environmental factors: Internal and external to the Organization ·The standard emphasises the impact of organizational culture, structure, and governance. Aspects like vision, mission, values, beliefs, cultural norms, leadership style, hierarchy and authority relationships, organizational style, ethics, and code of conduct remain critical success factors, as well as a framework for ethical decision making. Social and cultural influences and issues. External factors include political climate, regional customs and traditions, public holidays and events, codes of conduct, ethics, and perceptions. Artificial Intelligence (AI) AI ethical issues, especially the responsible use of AI tools and the negative impact on project team members, are an especially important aspect. Topics like data privacy and security can be addressed using technical controls. Issues like bias and fairness require special attention from project managers. Lack of clarity on who is responsible when AI-driven decisions go wrong can create confusion and an unending blame game. AI agents cannot be (yet) included in a Responsible, Accountable, Consulted, or Informed (RACI) matrix. Although their use is unavoidable, the responsibility and accountability remain with the human user. The use of AI is dependent on context, and it should be assessed for each project through a decision-making process to determine when AI can assist with tasks or provide more time for other valuable activities. The evaluation should be focused on the use of AI to produce project artifacts. Initiative-taking measures should be considered to identify and assess the risk of incorporating AI and determine if it is acceptable or it should be controlled. Below is a list of some ethical concerns related to the use of AI in projects
·Diversification of the data sets on which the AI system is trained; ·Periodic tests conducted on the AI system, with particular focus on bias; and ·Involvement of different teams in the development of the AI system. Procurement is another ethics area of focus that PMBOK 8 provides guidance on. In chapter X4.9.2, Sensitivity of Legal Actions and Upholding Ethics Codes, the standard provides considerations to avoid impact on project outcomes and stakeholder relationships: ·Nuanced communication. ·Escalation protocols. ·Confidentiality. ·Impartiality. PMBOK 7 explicitly references the PMI Code of Ethics as a complementary and essential guide for project professionals. This code provides the specific rules for ethical conduct, based on core values of honesty, responsibility, respect, and fairness.
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Trust the Data - but Not Blindly: An Ethics Bistro on AI
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It was a rainy Tuesday when the red flag popped up. The AI tool, designed to optimize resource allocation across our project portfolio, had flagged three critical projects for delay. The model’s recommendation? Shift half the team from Project Titan to Project Eclipse to balance out workloads. At first glance, it seemed logical. The resource allocation maps, and velocity graphs supported the reallocation. But something did not sit right. I had collaborated closely with Titan’s team leads for months. They were on the verge of a breakthrough with a critical client deliverable. Moving people now, even with Eclipse falling behind, could cause a domino effect across our most valuable account. I called a huddle. “Why did the model deprioritize Titan?” I asked the AI SME. “It is based on risk scoring from delivery variance, budget utilization, and resource burn. Titan looked stable, so it pulled from there.” “But it does not know the client conversation we had last week. Titan’s ‘stability’ is built on momentum we cannot afford to interrupt.” That was it. The AI had the data but not the context. We chose not to follow the recommendation. Instead, we manually adjusted scope and brought in temporary support for Eclipse. It was a tough call, but three months later, Titan delivered on time and exceeded client expectations. Eclipse caught up too—without derailing the portfolio. That experience taught me something: AI is brilliant at pattern recognition, but it does not see what you know. It does not read nuance. And it does not carry responsibility. So, when should project managers trust AI—and when should we intervene? Trust AI when:
But intervene when:
AI is like a junior analyst with infinite memory and no emotional baggage. But it lacks judgment, and judgment is where leadership lives. As project managers, we are not just responsible for outcomes; we are stewards of values. According to the PMI Code of Ethics, we are bound to act with responsibility, respect, fairness, and honesty. Blindly following AI no matter how accurate without human oversight may compromise all four. Use AI like a compass not a map. Let it guide your thinking, but do not let it override your wisdom. Because when things go south, the algorithm will not be in the room explaining the outcome you will. So next time your AI flags a decision, pause. Ask: Does this align with what I know, what I have seen, and what matters most? If the answer is no, trust yourself and intervene. Reference: Webinar: Ethical Project Leadership in the digital age Webinar: When to Trust AI and When to Intervene
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Upholding Ethics in Personal Conduct: Lessons from “Wrongful Referrals”
| The January 9, 2025, Bloomberg article titled "The New $30,000 Side Hustle: Making Jobs Referrals for Strangers" by Jo Constantz highlights a disturbing ethical issue and discusses the emerging trend of technology workers earning significant sums by referring job candidates they have never met. This underground marketplace for employment referrals has gained traction at major U.S. companies like Microsoft and Nvidia. Platforms like Refer Me and Refermarket allow job seekers to anonymously request referrals from verified employees, with some tech workers earning up to $30,000 in referral bonuses over 18 months. While this practice can improve hiring odds, it raises ethical concerns as it often violates company policies that require personal knowledge of candidates. Examining the ethical issue using PMI’s Code of Ethics and Professional Conduct as Ethical Decision-Making Framework, I, as an astute member of the Ethics Insight Team, draw these lessons learned and propose remedies for considerations. Comments and Lessons Learned:
Remedy: To address these ethical concerns, companies should reinforce their referral policies and provide clear guidelines on acceptable practices. Regular training on the corporate/internal on similar Code of Ethics and Professional Conduct Policy and or Procedures can help employees understand the importance of responsibility, respect, fairness, and honesty in the hiring process. Additionally, implementing stricter monitoring and enforcement mechanisms can deter unethical referral practices and ensure a more transparent and equitable hiring process. How would you, as an ethical project practitioner, act when a stranger offers monetary incentives and seeks your referrals? Does the situation happen to you? Are there any other lessons learnt and remedies to which you can relate? The PMI Ethics Insight Team likes to bring this timely topic for a healthy deliberation. References: Constantz, J. (2025, January 9). How to Get a Job Referral from a Stranger. Bloomberg.com. https://www.bloomberg.com/news/articles/2025-01-09/how-employee-referrals-for-tech-jobs-became-a-side-hustle Project Management Institute. (n.d.). Code of Ethics and Professional Conduct. pmi.org. https://www.pmi.org/-/media/pmi/documents/public/pdf/ethics/code-values-card.pdf Project Management Institute. (2011). PMI Ethical Decision-Making Framework (EDMF). pmi.org. https://www.pmi.org/-/media/pmi/documents/public/pdf/ethics/ethical-decision-making-framework.pdf
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Navigating Ethical Challenges in Project Management: Fairness, Favoritism, and Prejudice
Categories:
Ethics as a competence,
Behavior,
code of ethics,
Ethical Leadership,
Decision-making,
Ethics Insight Team,
Ethics Bistro,
Business Ethics,
code of conduct,
Ways of Working,
Decision-making,
Do the right thing,
project manager,
Ethical Dilemma,
Professional Responsibility,
Professional Conduct,
Fairness,
Project Management,
Code of Ethics and Professional Conduct,
fairness,
professonal conduct,
Conflict,
Cultural Diversity,
professional conduct,
Decision Making,
Ethics
Categories: Ethics as a competence, Behavior, code of ethics, Ethical Leadership, Decision-making, Ethics Insight Team, Ethics Bistro, Business Ethics, code of conduct, Ways of Working, Decision-making, Do the right thing, project manager, Ethical Dilemma, Professional Responsibility, Professional Conduct, Fairness, Project Management, Code of Ethics and Professional Conduct, fairness, professonal conduct, Conflict, Cultural Diversity, professional conduct, Decision Making, Ethics
| “Fairness is not an attitude. It's a professional skill that must be developed and exercised – Brit Hume”
In the dynamic world of project management, maintaining fairness and avoiding favoritism and prejudice are crucial for fostering a productive and harmonious work environment. These ethical challenges can significantly impact team morale, project outcomes, and the overall success of an organization. Let’s delve into how fairness, favoritism, and prejudice play out in project management and explore strategies to address these issues effectively.
1. The Importance of Fairness
2. The Detrimental Effects of Favoritism
3. Addressing Prejudice in the Workplace
4. Strategies for Promoting Fairness
5. Creating a Positive Work Environment
Conclusion Fairness, favoritism, and prejudice are critical issues in project management that can significantly impact team dynamics and project success. By promoting fairness, addressing favoritism, and mitigating prejudice, project managers can create a more inclusive, productive, and positive work environment. This not only enhances team morale but also drives better project outcomes. Question: What are your experiences with fairness, favoritism, and prejudice in project management? How have you addressed these challenges in your projects? Share your thoughts and insights! |








