Whistleblowing Conditions Whistleblowing can best be described as a person that exposes any business related activity deemed illegal or unethical. Whistleblowers can bring allegations forward either internally or externally. Internal whistleblowing allegations are generally reported to direct supervisors and managers within an organization while external whistleblowing allegations are brought forward by contacting someone outside of the organization such as law enforcement, news media, and governmental agencies. Whistleblowers take many risks including retaliation from those accused of wrongdoing. Vocalizing concerns takes courage because of the personal risk involved by doing so. In regards to this, individuals should consider several factors before blowing the whistle on perceived wrongdoings in the workplace. The factors are:
1. Determine personal ethical limits. How strong are one’s feelings toward the situation? Do the circumstances cross personal ethical lines? Will acting or not acting violate personal core values?
2.
…show more content…
The legislation was signed into federal law by President Barack Obama on July 21, 2010. Further, the law was passed as a response to the 2008-2009 financial crisis; bringing the most substantial changes to financial regulations since the regulatory reforms following the Great Depression. The aim of the legislation is to promote the financial stability of the United States by improving accountability and transparency in the financial system. The Securities and Exchange Commission (SEC) will pay a whistleblower 10 to 30 percent of monies recovered from financial fraud as long as the information provided leads to the recovery of more than one million dollars. Additionally, the Dodd Frank Reform Act allows whistleblowers to take their complaints directly to the SEC, thus bypassing the normal organizational chains of