FRANKFURT: The German financial sector watchdog BaFin on Friday unveiled a new “whistleblower platform” via which employees can report suspicions of dubious or illegal practices within their company without fear of reprisals.
BaFin said in a statement that a central contact point had been set up for financial sector employees to report possible suspicious behaviour or practices.
The system is designed to protect the identity of the whistleblowers, who can choose to make tip-offs anonymously, BaFin said.
“By identifying infringements of supervisory rules, the whistleblowers play a very important role,” the authority said.
“They can make valuable contributions towards uncovering the misconduct of individuals or entire companies within the financial sector,” it argued.
The contact point will be operational from Saturday and accessible via the watchdog’s website, a spokesman told AFP. The whistleblowers can be sure that they won’t suffer any reprisals from their companies, BaFin insisted.
The move comes amid a heated debate in Europe concerning the legal status of whistleblowers.
Earlier this week, two whistleblowers in the “LuxLeaks” tax scandal were given suspended jail sentences for leaking thousands of documents that exposed Luxembourg’s huge tax breaks for major international companies.
Courtesy : Dawn News