Skip to content
Friday 14 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,772.67
-0.56%
DAX
26,299.74
0.00%
CAC 40
8,650.56
0.00%
STOXX 50
6,545.47
0.00%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Sunday 03 July 2016 9:44 pm

Germany’s financial watchdog extends support for whistleblowers

By: Hayley Kirton

Add as a preferred source on Google

Germany's financial watchdog has given a boost to whistleblowers this weekend by launching a system for those who want to report the wrongdoings of their companies.

The Federal Financial Supervisory Authority's (Bafin) new system is aimed at employees or others who are closely linked to an organisation who wish to disclose violations of supervisory rules.

Bafin's new unit will accept information through mail, email, via telephone or face-to-face.

The small number of specially trained staff responsible for running the scheme will endeavour to protect whistleblowers' identities, not disclosing them to anybody who is not working inside the unit. 

Read more: Don't rock the legal sector now, pleads Law Society chief executive

The treatment of whistleblowers has become topical as of late. Last week, two ex-employees of an accountancy firm in Luxembourg were convicted for leaking their firm's data. The data they obtained revealed how hundreds of large corporates had seemingly funnelled their businesses through Luxembourg to slash their tax bills, and the information went on to form the International Consortium of Investigative Journalists' (ICIJ) Luxembourg Leaks project.

ICIJ director Gerard Ryle said that the men involved should have been "applauded and thanked for their roles in bringing the issue of corporate tax avoidance to the public's attention, not dragged through the courts and punished".

Read more: Why lawyers need to stock up on coffee post-Brexit vote

Meanwhile, an unnamed person claiming to have been behind the leak of the Panama Paper's data from law firm Mossack Fonseca issued a statement in May saying that they would happily share what they knew with the relevant authorities, provided they were not prosecuted as a result.

"Legitimate whistleblowers who expose unquestionable wrongdoing, whether insiders or outsiders, deserve immunity from government retribution, full stop," the statement read. "Until governments codify legal protections for whistleblowers into law, enforcement agencies will simply have to depend on their own resources or on-going global media coverage for documents."

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Legal

Trending Articles

  • Revolut takes flight with launch of new airport lounges

  • It’s not just Jason Arday, most of sociology is a scam

  • IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details

  • Grandparents fund university degrees to avoid inheritance tax net

  • Five-star Mayfair hotel hit with HMRC winding-up petition

More from Morning Wire

  • FCA eyes tougher AI rules as Brits turn to chatbots for financial advice

    AI
    An all-party parliamentary group said on Tuesday that the FCA's treatment of both internal and external whistleblowers was “alarming”.
  • RS2 Financial Services GmbH Selected to Participate in ECB Digital Euro Pilot

    Business Wire
  • Motor finance war of words heats up as City watchdog blasts law firm’s motives

    Legal
    The FCA has introduced new proposals to close the financial advice gap.
  • Watchdog probes KPMG over Wood Group audit

    Business
    KPMG office building exterior with company logo under clear blue sky, representing global professional services firm
  • City watchdog eyes rules overhaul for UK asset managers

    Regulation
    The FCA has appointed Liam Coleman interim chair of the FOS.
  • City watchdog suspends parts of £9bn motor finance scheme after industry backlash

    Banking
    The FCA has appointed Liam Coleman interim chair of the FOS.
  • Zilch, Clearscore among five UK scale-ups to get dedicated FCA support

    Tech
    PhilandSean ZilchCo founders discussing business strategy in an office setting, highlighting innovative leadership and tea...
  • Battersea Power Station misreporting claims scrutinised by accounting watchdog

    Accountancy
    Breaking news scene with reporters, cameras, and microphones at a bustling press conference, spotlight on speaker podium
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook