News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2022-11-07T16:22:00
The experience of Xavier Andre Justo—the former Swiss banker turned whistleblower in one of the most notorious financial scandals of the past decade—shows that those who speak up about bribery and corruption are often the only victims of the supposed “victimless crimes” they report.
Justo had been one of the directors of oil company PetroSaudi’s London office. In 2009, the company engaged in a multi-billion-dollar joint venture with Malaysia’s newly set up sovereign wealth fund, 1Malaysia Development Berhad (1MDB), whose aim was to fund infrastructure projects to drive the country’s economic growth.
Following a dispute with PetroSaudi’s co-founder Tarek Obaid, Justo left the company in 2011—taking with him to his home in Thailand a server full of emails and other sensitive financial documents as an “insurance policy.”
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-11-14T16:27:00Z By Kyle Brasseur
With a moving target for compliance under the EU’s Whistleblower Directive, the opportunity exists for companies to set their own standards on whistleblowing and engender greater trust among employees, according to a panel at Compliance Week’s Europe conference in London.
2023-03-10T20:40:00Z By Adrianne Appel
Former Goldman Sachs Managing Director Roger Ng was sentenced to 10 years in prison for his role in the 1MDB fraud scandal.
2022-11-21T17:50:00Z By Neil Hodge
A U.K. employment tribunal’s ruling that a former BP employee was not entitled to whistleblower protection has shone a spotlight on the legal issues workers must consider ahead of speaking up.
2024-06-20T15:37:00Z By Aaron Nicodemus
A whistleblower received an $8 million award from the Commodity Futures Trading Commission for uncovering fraud—even though the agency deemed the whistleblower was culpable in the misconduct.
2024-05-23T15:35:00Z By Kyle Brasseur
Compliance Week Advisory Board members Eric Young and Ellen Hunt participate in a debate-style discussion regarding whistleblower-related topics including culture of compliance, monetary incentives, retaliation, and more.
2024-04-29T11:39:00Z By Neil Hodge
The European Union’s strong stance on whistleblower protection has been undermined by member states’ wildly different approaches to punishing organizations that fail to safeguard people who raise concerns, says Wirecard whistleblower Pav Gill.
Site powered by Webvision Cloud