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Whistleblower Protection Comes into Force in British Virgin Islands Amid Crackdown on Financial Crimes

The long-awaited Whistleblower Act, 2021 has finally come into effect in the British Virgin Islands (BVI), marking a new era of protection for individuals who report financial crimes and other improprieties. This law aims to encourage whistleblowers to come forward without fear of reprisal, ultimately leading to increased transparency and accountability.

Who Can Blow the Whistle?

Under the Act, any individual can blow the whistle on another person or institution if they have reasonable cause to believe that a crime has been committed, or that there is a miscarriage of justice, waste of public resources, environmental degradation, or threat to public health. The disclosure must be made in good faith, with reasonable belief that the information is substantially true, and must be made to one or more specific individuals or institutions.

Protected Persons and Institutions

The Act sets out a range of protected persons and institutions, including:

• Employers
• Government officials
• Law enforcement agencies
• Religious leaders

Whistleblowers are also protected from victimisation by their employer or colleagues, with penalties for any breach of confidentiality.

Reporting Concerns

In addition, the Act establishes a procedure for reporting concerns, including provision for whistleblowers who may be illiterate or have disabilities. Investigations into reported improprieties must be carried out expeditiously, and those found guilty of concealing evidence can face serious penalties, including imprisonment.

Whistleblower Reward Fund

The Act also creates a Whistleblower Reward Fund, which will provide financial incentives to whistleblowers whose disclosures lead to convictions or the recovery of money. The fund will be made up of voluntary contributions and other allocated funds.

Guidance for Businesses

BVI businesses are now urged to familiarise themselves with the Act and implement policies that reflect its new provisions. With this in mind, internal whistleblowing policies should be reviewed or implemented to ensure compliance with the law.

Seek Further Guidance

The authors of this article are available to provide further guidance on the Whistleblower Act and assistance with reviewing or preparing whistleblowing policies.