Financial Crime World

Bulgaria Strengthens Whistleblower Protection Laws

Improving Transparency and Accountability

Sofia, Bulgaria - The Bulgarian National Assembly has recently adopted a new Whistleblower Protection Act to improve transparency and accountability in the country. The legislation aims to protect individuals who report breaches of Bulgarian law or European Union acts that they have encountered during their work.

Obligations for Employers

Under the new act, all public sector employers, as well as private sector employers with 50 or more workers or employees, are required to:

  • Set up an internal reporting channel for receiving and registering reports about breaches
  • Designate one or more officials responsible for handling reports
  • Adopt internal whistleblowing rules
  • Ensure that the reporting person is protected from any form of retaliatory action

Central Authority and Reporting Process

The Commission for Protection of Personal Data has been designated as the central authority for:

  • External reporting of breaches
  • Protecting persons who report such breaches

The commission will be responsible for:

  • Organizing the adoption of reports
  • Giving methodological instructions to obliged entities
  • Adopting an ordinance for keeping a register of reported breaches

Sanctions for Breaches

The new act provides for different amounts of sanctions for various types of breaches, ranging from BGN 400 to BGN 20,000. In cases where it is established that a person has intentionally filed a report containing false information or made public false information, they may be punished with a fine of up to BGN 7,000.

Implementation and Impact

The new Whistleblower Protection Act will come into effect on [insert date] and aims to create a safer environment for individuals who speak out against wrongdoing. The law is expected to have a positive impact on the country’s transparency and accountability, promoting a culture of openness and trust.

For questions or further assistance regarding the interpretation and application of the new Whistleblower Protection Act, contact TPA Bulgaria at [insert contact information].