White collar crime is not sufficiently enforced in this country, over four fifths of industry professionals have indicated in a new survey.
A quarter of respondents also said their organisation has received a protected disclosure in which allegations of serious wrongdoing were made over the past three years.
However, 15% indicated that they do not have a process in place to enable a worker to make a protected disclosure.
Four-fifths of those who took part in the survey also said they do not believe a monetary aware should be given to workers who make a protected disclosure.
The views were gathered by law firm, Mason Hayes and Curran as part of webinar on white collar crime and whistleblowing.
"Proving white collar crime is notoriously difficult," said Peter Johnston, Partner, Mason Hayes & Curran LLP.
"The recent establishment of the Corporate Enforcement Authority, with its increased powers and resources, should increase the investigation and enforcement of company law breaches which will in time hopefully address the perceived lack of enforcement."
The recently enacted Protected Disclosures (Amendment) Act 2022 puts significant obligations on employers here to facilitate and support workers in making protected disclosures.
Employers with more than 50 employees have a duty to establish, maintain and operate internal reporting channels and procedures.
Employers who receive a protected disclosure must acknowledge receipt of the disclosure within seven days.
"They must also follow up diligently on the disclosure, which may include an investigation," said Elizabeth Ryan, Partner, Mason Hayes & Curran LLP.
"Importantly, employers are not legally obliged to follow up on anonymous disclosures."
The new laws also expand the definition of workers to include job applicants, shareholders, members of boards and volunteers.
While the list of actions which could constitute penalisation has been expanded to include negative performance assessments, harm to reputation via social media and psychiatric or medical referrals.
