Financial Crime World

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New Law Protects Whistleblowers: What You Need to Know

A new law aimed at protecting whistleblowers has been introduced, providing significant changes to the way reporting of potential legal violations is handled.

Key Provisions


The new law states that:

  • Reports made by whistleblowers cannot be used as evidence in cases where someone has taken retaliatory actions against them.
  • Whistleblowers who have been subject to retaliatory actions will be entitled to full compensation.
  • The new law also extends protection to individuals assisting whistleblowers and entities associated with whistleblowers, including those without legal personality.

Implementation Schedule


The law requires certain organizations to implement an internal reporting procedure within a specific timeframe:

  • Organizations employing 250 or more people must do so within 3 months of the law taking effect.
  • Financial institutions, security companies, and environmental protection organizations must do so regardless of the number of employees.
  • Municipalities with over 100,000 residents will also be required to implement the procedure.

Best Practices for Implementing the Procedure


When implementing the internal reporting procedure, organizations should:

  • Consult with trade unions or employee representatives before finalizing the text of the procedure.
  • Provide a minimum of 7 days and a maximum of 14 days for consultation.
  • Make the agreed-upon procedure available to all employees within 2 weeks after its approval.
  • Ensure that new employees are aware of the procedure during the recruitment process.

Mandatory Requirements


Each internal reporting procedure must include:

  • Designation of an authorized person responsible for receiving reports
  • Definition of procedures for processing and forwarding reports
  • Establishment of a neutral body to verify reports

The new law aims to create a safer environment for whistleblowers, while also ensuring that organizations comply with legal requirements.