Irish Central Bank Sees 40% Rise In Whistleblower Reports

Law360, London (November 5, 2019, 3:46 PM GMT) -- The Central Bank of Ireland said that it has seen a 40% increase in the number of reports it has received from whistleblowers alleging wrongdoing in the country’s financial services sector.

Consumers and staff made 165 disclosures about illegal or dishonest behavior at regulated financial companies in Ireland during the 12 months to June 2019, Ed Sibley, deputy governor at the central bank, said on Monday. The number was up from 117 the year before — an increase of more than 40%.

Sibley said that the central bank takes supervisory action based on protected disclosures. This can include on-site inspections, orders...

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