The UK may look to follow the lead of the US in introducing a whistleblowing reward scheme in a bid to combat corporate crime.
US Deputy Attorney General, Lisa Monaco, recently announced a new Department of Justice-run corporate whistleblower rewards pilot programme, highlighting the critical role whistleblowers play in uncovering corporate misconduct. The new pilot programme also aims to encourage more corporate self-reporting.
Whistleblowers can report to the US Department of Justice from anywhere in the world if there is a US link in a case. The new scheme is therefore of relevance to companies across the globe and should be considered carefully, particularly when deliberating corporate self-reporting.
Joint head of the Serious Fraud Office (SFO), Sara Chouraqui, recently hinted that work is already underway to introduce a new whistleblower reward mechanism in the UK and the SFO has confirmed it “will explore incentivised options for whistleblowers, working with partners in the UK and abroad.”
Speaking at the Global Investigations Review Conference, Sara Chouraqui said: “Only five percent of SFO referrals come from whistleblowers. Paying monetary rewards to whistleblowers is a pragmatic approach to secure better evidence and progress cases more quickly.”
In the UK, whistleblowers are protected under the Public Interest Disclosure Act 1998. The legislation ensures that individuals who disclose information about wrongdoing in the workplace are safeguarded from...
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