Business Litigation Alert: "Survey Says: Americans Likely to Blow the Whistle"
New data suggests most employees would report their company’s wrongdoing
In past newsletters, I have discussed the Whistleblower Provision of the Dodd-Frank Act and the monetary incentive now available to employees to report their companies for wrongdoing.
It should come as no surprise that more than three-quarters of Americans say that they would be willing to blow the whistle based on this new government program.
- In survey results released last month, 78% of respondents indicated that they would report wrongdoing in the workplace under the monetary rewards currently afforded by the Dodd-Frank Act.
- With one-third of the respondents reporting that they have first hand knowledge of wrongdoing in the workplace, the number of reports coming in this year will likely rise, as is expected by the SEC.
- However, of those surveyed, 68% did not know that the whistleblower program existed, so there is still some lag in employee awareness regarding the program.
Given these numbers, the importance of internal reporting and employee education on internal processes has become more important than ever to avoid costly and lengthy government investigations and their ramifications.
The more everyone is informed, the softer the whistle blows.
This information is made available for educational purposes only and does not offer specific legal advice or create an attorney-client relationship with the Firm. Do not use this information as a substitute for specific legal advice. Attorney advertising