One year has passed since the Whistleblower Protection Directive came into force. Member States now have until 17 December 2021 to transpose the new whistleblower protection rules into national law.
The EU Whistleblower Protection Directive sets out minimum standards for how organizations should handle whistleblowers’ reports, respond to these reports, and protect the whistleblowers including their third parties.
This legalisation means organisations in both the private and public sectors must have an established and usable whistleblowing system in place and must adopt policies for employees, business partners and suppliers to raise concern in best practice from both an HR and risk management perspective.
Our secure and simple instant platform provides your employees and business partners with anonymous options to report issues related to fraud, harassment, theft, embezzlement, anti-bribery and corruption.
Many organisations are relying on internal control systems to detect fraud and corruption, supplemented by professional audit processes. However, this is not a robust framework. Research shows professional auditors were only able to detect 19% of the frauds on private corporations, while whistleblowers exposed 43%. Executives surveyed estimated that the whistleblowers saved their shareholders billions of dollars.
Is your organisation compliant with the new whistleblower legislation? Do you have systems and controls in place which encourage potential whistleblowers to come forward?
Take the next step to ensure your organisation and third–party suppliers are compliant with the EU Whistleblower Legislation by contacting us at email@example.com or requesting a demo below.