Whistleblower awards are empirically proven to strengthen the fight against financial crime, according to a report released on December 10 from the Royal United Services Institute (RUSI).

The report builds upon a growing body of research about the effectiveness of the United States’ whistleblower award programs, while also directly addressing the arguments raised against the implementation of whistleblower awards in the United Kingdom.

At a London event launching the report, Eliza Lockhart, the author, explained that over the course of her research, she frequently heard those opposed to whistleblower awards express say, ‘People should not be rewarded for doing the right thing.’ Lockhart said, “it's taken me a while to unpack exactly where that narrative comes from, but more importantly, why it does us a disservice if our ultimate goal is to increase the detection and deterrence of economic crime.”

The research project was designed to study the effectiveness of whistleblower award programs that target private sector economic crime. Lockhart analyzed data from existing programs in the U.S. and Canada, specifically programs that are run by the U.S. Securities Exchange Commission, the U.S. Commodity Futures Trading Commission, and the Ontario Securities Commission. She also conducted expert interviews with current and former representatives of government agencies who run these programs, with civil society and private sector stakeholders, and with lawyers, academics and...

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