Fraud remains one of the most problematic issues for business worldwide, no matter the company’s country of operation, industry sector or size.
ICC established a task force on this issue in order to prepare ICC guidelines in addition to the Whistleblowing chapter of the ICC Handbook.
What is whistleblowing?
Whistleblowing is a procedure that is voluntarily implemented by a public or private enterprise and that allows employees to expose serious concerns (whether they are established or soundly perceived) that may result in:
A breach of the law or of the company’s internal regulations
Serious harm to company activities by engaging its civil and criminal responsibility
The increasing recognition that whistleblowers can play a critical role in disclosing corporate misconduct has also led to considerable legislative activity in many countries designed to protect whistleblowers and to encourage them to raise concern.
Under an established whistleblowing policy, the employee will feel comfortable reporting concerns without fear of repercussions. This in return allows the company to appropriately deal with such concerns before an illegal act has been committed rather than after the damage has already been done.
Delayed reporting may seriously harm the company’s reputation and make it face a serious risk of prosecution.
ICC Whistleblowing Guidelines