Reward to Whistleblowers

It's good to reward whistleblowers, who help in identification of unethical practices and wrongdoers.

The US' Securities and Exchange Commission (SEC) awarded a whistleblower more than $114 million (over ₹841 crores), its highest reward for information that led to a successful crackdown.

The $114 million award consists of an approximately $52 million award in connection with the SEC case and an approximately $62 million award arising out of the related actions by another agency.  The combined $114 million reward marks the highest award in the program’s history, and eclipses the next highest award of $50 million made to an individual in June 2020.

What is whistleblowing

A whistleblower is a person (or employee) who exposes information or activity within a private, public, or government organization that is deemed illegal, unsafe, fraud, or abuse. The employee is usually closely associated with the organization or agency, but also sometimes a supplier or a customer. They become a whistleblower when they observe actions that they believe to be  illegal and not in line with the company's Code of Conduct.

Who are whistleblowers

Whistleblowers are people who have inside information about unethical practices happening within the organization. As there is no direct incentive for whistleblowers to report alleged unethical practices, it need a connect and courage to the whistleblowers for reporting. The onus is on the company to provide a framework and safeguard to the whistleblowers to raise their voice.

Whistleblowing in India

Whistleblowing in India is still in the nascent stage. The country has no concrete laws to counter the implications of whistleblowing. Corporate world of India are gradually understand the importance of Whistle blower mechanism and implenting within the organisations. This cultural change will boost the ethical business practices in Indian organization.

Whistlefirst,We are an experienced whistle-blowing company, dedicated to offer a safe, transparent, and secured solution for our customers. Our solutions are easy-to-use and user-friendly. We empower and enable our customers to improve their work culture and value in today's fierce competitive world.

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