Kyrgyzstan Takes Steps to Protect Whistleblowers in Financial Sector

In an effort to curb corruption, the Kyrgyz government has strengthened its whistleblower protection laws in the financial sector. The Whistleblowers’ Protection Law, enacted in 2018 and amended in 2020, provides a robust system of protections and incentives for those who come forward with information on corrupt acts.

Significant Safeguards

Under this law, whistleblowers are afforded significant safeguards to ensure their safety and well-being:

• Their identities can be kept secret, punishable by heavy fines if disclosed without authorization.
• They are protected from:
  • Physical harm
  • Retaliation in both professional and personal capacities
  • Legal assistance and financial compensation in case of harm or damage

Incentives for Cooperation

The law also offers two types of incentives for whistleblowers who cooperate with authorities:

• Whistleblowers can receive a percentage of the funds saved or recovered by the state, capped at 5%, if they did not participate in the corrupt act.
• They may be exempt from criminal penalties if they disclose information before authorities discover the corruption, and can even benefit from reduced sentences if they come forward later.

Encouraging Transparency

These measures are designed to encourage individuals working in the financial sector to speak out against corruption, knowing that their identities will be protected and they will receive support and compensation if necessary. The law provides a critical safeguard for those who might otherwise face threats or retaliation for exposing wrongdoing.

Learn More

For more information on Kyrgyzstan’s Whistleblowers Protection Law, click [insert links].