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Saturday, April 25, 2026

Blowing the Whistle in 2023 - Global Banking And Finance Review

By Jan Stappers, EU Whistleblowing Specialist at NAVEX

Whistleblowing means holding power to account. However, when people hear about whistleblowing, it’s usually because it has already hit the front pages as a huge scandal — on the scale of Theranos’ recent conviction. When most reports in the public consciousness are of this magnitude, it can be intimidating to speak up.

Yet, whistleblowing isn’t only for big scandals; reporting of more commonplace misdeeds can improve safety and compliance at any business. When it comes to whistleblowing, employees can feel unsupported when a business doesn’t encourage a speak-up culture. As such, every business should provide employees with easy-to-use reporting outlets, which is easier now than ever, due to improving technologies that simplify the process.

When employees see or hear of wrongdoing, and wish to speak up internally, it’s important for businesses to have robust strategies in place that allow them to do so. Some people understandably fear the potential backlash that could come from their colleagues or the business when speaking up. So, ensuring that reporters know their claims will be handled impartially and providing them with anonymity, is a core part of encouraging a speak-up culture.

The EU Whistleblowing Directive

However, until the implementation of the EU Whistleblowing Directive, whistleblowers had no legal protections. Since 2019, the directive has begun making changes in three particular areas:

  1. Detecting and...


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