Covid-19 pressures will lead to more whistleblowing

Emboldened by increasing public acceptance and legal protections, growing numbers of employees who encounter misconduct in their work environment are willing to blow the whistle. And as recessionary pressures hit financial institutions, the potential for breaches will be heightened. Firms would be wise to ensure their whistleblowing procedures and training are up to the task, advises Bambos Tsiattalou.

Bambos Tsiattalouis the founding partner of Stokoe Partnership Solicitors andspecialises in cases involving money laundering, confiscation, civil recovery and extradition matters. Contact him on btsiattalou@stokoepartnership.com.

The number of whistleblowing complaints made to the Financial Conduct Authority has risen markedly over the past year. Reports relating to breaches of standards of professional behaviour rose by a remarkable 35 per cent. It’s also becoming clear that employees in the financial sector are becoming increasingly confident of protection when reporting wrongdoing. In 2019, only 25 per cent of employees reporting to the FCA sought anonymity.