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New Whistleblowing laws. Are you prepared?

Historically, those who witnessed white collar crime in a workplace knew that reporting these issues could be a career ending move. Whistleblowers were very often subjected to detrimental actions and victimised.

 

Changes to the Corporations Act, 2001 (Cth) and Taxation Administration Act 1953, (Cth), came into force in July 2019, with heavy penalties from 1st January 2020. Public companies, large companies foreign, trading or financial corporations are required to have processes in place which enable protected disclosures. Those workplaces which do not protect whistle-blowers by threatening or causing detrimental vicitmisation are liable to fines of up to $1,000,000.00 for individuals and $10,500,000.00 for companies or 10% of revenue.

 

Thousands of Australian employers need to change their approach to whistleblowing.

 

Anyone who has been involved with a company are eligible whistleblowers – employees, former employees, contractors, employees of contractors, volunteers, associates and relatives.

 

What you need to do NOW

 

Ensure you have a compliant whistleblowing policy.
 
Two types of Training:
 

  1. Train your managers, directors, officers of the organisation or anyone likely to receive whistleblowing disclosures, about the new laws and what to do when hearing disclosures.
  2. Train all staff about how the whistleblower regime works under the Act, and how the whistleblower policy provides a process for disclosing and investigating certain matters. It details the protections that will be provided to eligible whistleblowers, as well as what is not included in the policy, such as personal disputes, scheduling, workplace grievances, and promotion.

Provide a trusted reporting system for whistleblowers. Although whistleblowers can make their disclosures to APRA, ASIC and management, some organisations may prefer to provide an independent organisation which helps individuals trust the confidentiality and processes

 

interMEDIATE Dispute Management provides an independent, highly confidential hotline, as well as training and policy services for companies who wish to ensure your organisation is they are compliant, protect their workers and improve their workplaces.

 

Contact us

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