The Financial Conduct Authority has received 315 whistleblowing reports between April and June.
The quarterly data showed an uptick in the number of reports the regulator had received.
During the same period last year, the City Watchdog received 253 reports, while Q1 2025 saw the FCA receive 281 reports.
According to the regulator, in Q2 2025 it received the most reports via an online reporting form (155), followed by email (89).
The data also showed the majority of whistleblowers shared their identity with the FCA when filing a report, with 68 per cent choosing to do so and 32 per cent preferring to stay anonymous.
Erin Sims, fraud risk services director at RSM UK, said: “The surge in whistleblowing reports is a clear signal that more staff are choosing to speak up.
“It should also serve as a reminder for firms to review their whistleblowing procedures and ‘speak up’ culture given the growing scrutiny in this area from the regulator.
“This data lands just as the ‘failure to prevent fraud’ offence takes effect on September 1, 2025, raising the bar for large organisations to show they’re implementing reasonable procedures that prevent fraud by employees and other associated persons.”
Sims urged firms to be prepared for closer scrutiny of whistleblowing channels, how concerns are triaged, and how intelligence feeds into fraud‑risk controls.
According to the regulator, the 315 reports it received this quarter contained 1,130 allegations in total.
The top allegation was in...
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