Whistleblowers given more incentive in US than UK
Comparing the approach to whistleblowing taken in the US and the UK, it seems American informants have more incentive, particularly in monetary terms, to come forward. Should the UK follow the US lead?
In November 2004, Paul Moore, then head of group regulatory risk at UK bank HBOS, was dismissed by his employer. His forced exit from the firm came after he had raised concerns with the bank’s board about its aggressive sales culture, which he believed was out of sync with its systems and controls. He passed on his concerns to the UK Financial Services Authority (FSA), who ordered KPMG to investigate Moore’s concerns. KPMG decided HBOS had adequate risk controls in place, the FSA accepted its
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