whistleblower

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whistleblower

a person, usually an employee, who reveals information, which he is contractually obliged to keep secret, because of an overriding public interest. The principle was recently introduced into the UK by the Public Interest Disclosure Act 1998, which has, for example, resulted in an accountant who was dismissed for exposing financial irregularities of his manager to the company headquarters in the USA being awarded not that much short of £300,000.
References in periodicals archive ?
The first helpful whistle-blower received about $50,000 for his help in (http://www.sec.gov/news/press/2013/2013-06-announcement.htm) August 2012 .
Interestingly, Feldman and Lobel concluded, "often, offering monetary rewards to whistle-blowers will lead to less, rather than more, reporting of illegality."
External whistle-blowers report misconduct on outside persons or entities, such as lawyers, the media, law enforcement or watchdog agencies, or other local, state, or federal agencies, being in some cases encouraged by monetary reward.
When whistle-blower Peter Daly, 49, attempted to tell managers about what he believed was going on, he said he received a threatening phone call.
But when whistle-blower Peter Daly, 49, attempted to tell managers about what he believed was going on, he received a threatening phone call from an unknown man.
In the corporate context, whistle-blowers is a term used to describe those employees who report wrongdoings to those in authority, or to the public.
Adding another level of enforcement, the state laws will enable the federal government to reclaim monies without getting involved in smaller whistle-blower cases.
By itemizing the types of misconduct, the definition introduces greater precision into the justifiable grounds for disclosure, but it probably also limits the scope of the legal protection provided to whistle-blowers.
Under the False Claims Act, whistle-blowers can receive up to one-quarter of government-recovered monies.
Fraud detection seems to have a strong support group in whistle-blowers. In the ACFE 2004 study, about 40% of frauds were discovered through whistle-blowers.
One of the outcomes of the recent financial scandals at Enron, WorldCom, and a number of other large corporations is a recognition of the value of whistle-blowers in exposing fraud, corruption, and other wrongdoing within organizations.
ISLAMABAD -- Prime Minister Imran Khan on Friday said the reward money for the whistle-blowers, helping the government authorities in detection and confiscation of Benami properties, would be increased from 3 to 10 percent.