Whistleblowing While You Work
Author
Media releases
Transparency Summit blows the whistle on Australia’s culture of secrecy
Net more white collar crooks by giving whistleblowers a slice of the criminal pie
Over 20 years ago the Australia Institute recommended creating a rewards system for whistleblowers. In the decades since, rolling corporate scandals have revealed white-collar crime is pervasive while American rewards systems have proven highly successful. By instituting a whistleblower rewards system Australia can more effectively uncover, combat, and deter these crimes, promote ethical business behaviour, and broadly benefit societal wellbeing.
White-collar crime degrades Australia’s social fabric, subverts its democracy, and undermines its economy. Unfortunately, many white-collar crimes remain hidden while continuing to harm society, making them difficult to detect and deter using ordinary methods. As such, whistleblowing is essential to detecting and deterring white-collar crime, bringing covert conduct into the open and breaking down trust between conspirators.
Implementing a whistleblower rewards system would provide regulators with a new and effective tool in reducing white-collar crime across Australia. These rewards would uncover ongoing white-collar crime and deter future crimes by breaking down trust between current and potential conspirators. Additionally, a revenue contingent fine payment system would allow regulators and courts to award fines based on actual damage caused, without affecting the financial viability of offending businesses. By reducing the prevalence of white-collar crime, a whistleblower rewards system would help rebuild Australia’s damaged social fabric, enhance the integrity of its economy, and help ensure its democracy is not undermined by corporate misbehaviour.
The Australia Institute’s research into democracy & accountability is kindly supported by the Susan McKinnon Foundation.