- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-03-27T21:27:00
A new report on corporate whistleblowing and hotline trends in 2023 found reporting volume at an all-time high, with key disparities uncovered between reports filed by third parties and those filed by employees.
The report, published Tuesday by NAVEX, contained whistleblowing data from 1.86 million global reports spanning thousands of organizations that together employ about 57 million people.
NAVEX, an integrated risk and compliance management software vendor, for the first time analyzed whether whistleblower reports were filed by third parties or employees. The report found third parties as a group delivered a far greater median share of reports related to business integrity matters in 2023 (50 percent versus 17 percent). Business integrity issues encompass topics like conflicts of interest, vendor issues, fraud, global trade, and human rights.
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The Department of Justice is set to join a growing list of U.S. federal agencies to have a whistleblower reward program in place, but how impactful it will be at generating more white-collar investigations and prosecutions rides on its initial design, according to experts.
The Commodity Futures Trading Commission announced a landmark whistleblower award of approximately $1.25 million to an individual in an internal compliance or audit function who came forward with information on misconduct occurring at his or her employer.
When Nick Ephgrave of the Serious Fraud Office said in his maiden speech he favored paying whistleblowers in exchange for information, he might not have been fully aware of the implications, according to legal experts.
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