Whistleblowers and their role as accountability and fraud prevention mechanism have recently been in the centre of attention. Despite several initiatives to encourage and motivate whistleblowers internationally, there are numerous recorded instances of retaliation and harassment practices. As a result, potential whistleblowers do not feel adequately protected to step up and raise their concerns.
The improvement of the protection regime internationally and the establishment of a robust system of incentives requires going beyond the introduction of new rules. Emphasis needs to be given to corporate culture so that the existing culture of silence is replaced by a new culture of honesty, integrity and transparency.
Drawing inspiration from the UK Bribery Act 2010, an attempt will be made to offer practical recommendations for this much-anticipated change of corporate culture to be initiated and for companies to be actively involved in this process.