In March, the FCA launched its “In confidence, with confidence” campaign, aimed at encouraging employees and ex-employees of financial services firms to report potential wrongdoing directly to the FCA. Whilst the reporting of potential wrongdoing directly to the FCA is not a new concept, the launching of this campaign signals that the FCA continues to view whistleblowing as a key priority
Massive amounts of tax revenue are lost to governments due to bank fraud. The United States is fighting back with Qui Tam Economic Whistleblower rewards, a provision of the False Claims Act, recovering billions of dollars from tax cheats since the Act’s revamping in 1986. Watch out. If you work in a bank that handles US citizens’ financial accounts, there could be a qui tam whistleblower working right beside you!