Financial whistleblowers 'not being listened to'

By James Barnes

20 May 2013 at 10:31 BST

Less than a quarter of whistleblowers involved in financial services are listened to when attempting to raise a claim with their employers, a survey has revealed.

Whistleblowers: lack of faith?

The study by UK whistleblowing charity Public Concern at Work with law firm Slater & Gordon found that 77 per cent of financial services whistleblowers are ignored when they tell their employer, the Financial Times reports.
Cathy James, the chief executive of Public Concern at Work, said that the results of the survey shows a lack of faith by companies to take action, adding that they are ‘missing a trick’.

External regulators

The survey also found that around a fifth of financial whistleblowers approached external regulators before their own employer.
Over 40 per cent of whistleblowers who triggered action following their claim said they lost their job, compared to just 24 per cent of whistleblowers in other sectors.
The report was based on the records of 300 financial services workers from organisations ranging from investment banks to asset management firms, who called Public Concern at Work’s advice line between 2007 and 2012.


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