Financial Crime World

Bulgaria Strengthens Whistleblower Protection Laws to Combat Corporate Wrongdoing

Sofia, Bulgaria - February 2, 2023 marks the effective date of Bulgaria’s landmark whistleblower protection legislation, aimed at combating corporate malfeasance and protecting individuals who report wrongdoing.

Scope of Protection

The Act on the Protection of Persons who Report or Make Public Information on Breaches provides a wide range of protections to:

  • Current and former employees
  • Self-employed persons
  • Volunteers
  • Interns
  • Contractors
  • Shareholders
  • Management and supervisory body members
  • Job candidates
  • Individuals who aid whistleblowers

While anonymous reports are not protected under the act, individuals who anonymously report breaches but are subsequently identified can still be eligible for protection.

Breaches Covered

The law covers a broad range of breaches, including:

  • Financial malfeasance
  • Data and consumer protection violations
  • Environmental wrongdoing
  • Employment law infractions

Proceedings will not be initiated for reports older than two years.

Employer Obligations

Under the new legislation, employers in both public and private sectors are obligated to establish internal reporting channels that must:

  • Ensure the integrity and confidentiality of information
  • Prevent unauthorized access
  • Allow for the storage of information on a durable medium for investigation purposes

Employers with 50-249 employees will have until December 17, 2023, to comply.

Protection from Retaliation

The law prohibits any form of retaliation against whistleblowers, including:

  • Termination
  • Suspension
  • Demotion
  • Discrimination

Whistleblowers who suffer harm as a result of breaches can seek compensation for pecuniary and non-pecuniary damages.

Designated Authority

The Bulgarian Personal Data Protection Commission has been designated as the competent central external reporting authority under the WPA, responsible for receiving reports and referring them to other authorities for review.

Goals of the Law

The new law aims to create a safe environment for individuals who report wrongdoing, promoting transparency and accountability in corporate and public institutions. By strengthening whistleblower protection laws, Bulgaria is taking a significant step towards combating corporate malfeasance and ensuring that those who speak out against wrongdoing are protected from retaliation.