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Whistleblowing for Managers (FS)

  • 35 Minutes
  • For managers
  • jurisdiction UK

FCA whistleblowing rules are mandatory for deposit takers holding more than £250m in assets and for insurers subject to Solvency II, reaching managers in the UK and overseas. This 35-minute course covers why whistleblowing matters, the legal protections available, why people stay silent, and how managers should respond.

Whistleblowing regimes fail at the first conversation. A manager who reacts defensively closes the channel for everyone who hears about it afterwards. The FCA expects senior managers to champion the arrangements, not merely permit them, and detriment claims are personally damaging. Training managers on the response, not just the policy, is what makes the channel usable.
objectives

What you’ll learn in
this course

  • Recognise the importance of whistleblowing
  • Identify the legal protection that exists in respect of whistleblowing
  • Identify the reasons for reluctance to report wrongdoing or misconduct
  • Recognise the compelling reasons for reporting wrongdoing or misconduct
  • Identify the internal and external measures that can be taken to set the right tone
  • Implement procedures relating to whistleblowing

Hear from our customers

Every member of the team I have had dealings with have been quick, efficient and very accommodating. No task or query is to big for them, and always a quick and prompt response. Pleasure to work with

Feefo Customer Rating  ★★★★★ 4.9/5

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Build a resilient business with financial crime compliance training

Anti-money laundering failures cost UK firms an average of £186.5 million a year. Our training helps your people detect suspicious behaviour and uphold your company’s integrity.
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Tipping Off

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Your questions, answered

Financial Crime

How can I log and track incidents of financial crime in my organisation?

Our Compliance Breach Register allows you to securely log and monitor incidents of financial crime, such as bribery or money laundering. The tool enables you to track resolution progress and maintain a clear audit trail, ensuring accountability and compliance with regulatory requirements.

How can I ensure my employees understand and comply with our internal policies in relation to financial crime?

Our Policy Hub enables you to distribute policies such as your Anti-Money Laundering (AML) policy to employees, track acknowledgements, and send automated reminders. This ensures everyone understands their obligations and helps you maintain compliance with financial crime regulations.
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Can small businesses be held accountable under competition law?

Yes. Competition law applies to businesses of all sizes. Even small companies can face investigations and serious penalties for engaging in anti-competitive conduct.

Are informal conversations with competitors risky?

Absolutely. Informal chats, especially those involving prices, market plans, or customers, can constitute unlawful agreements and should be avoided.

What are the consequences of breaking competition law?

Violations can lead to heavy fines for companies, director disqualification, criminal prosecution, and reputational damage.

How can companies prevent anti-competitive behaviour?

By implementing regular compliance training, setting clear internal policies, encouraging reporting of concerns, and ensuring employees understand the legal risks.

Does the Criminal Finances Act 2017 apply to non-UK companies?

Yes. The Act can apply to overseas entities if any part of the tax evasion facilitation occurs within the UK or involves UK tax liabilities. Multinational firms with UK operations should take note.

What industries are most at risk under the Criminal Finances Act?

Industries with complex financial transactions, high-value assets, or extensive third-party relationships such as banking, legal services, real estate, and professional consulting are particularly exposed to conduct and facilitation risks.

How often should businesses review their tax evasion prevention procedures?

Best practice is to conduct reviews annually or whenever there are significant changes in business operations, regulatory guidance, or risk exposure. Regular audits help ensure ongoing compliance.

Can small businesses be prosecuted under the Criminal Finances Act 2017?

Yes. The Act applies to all organisations, regardless of size. However, the HMRC’s guiding principles allow for proportionality, meaning smaller firms are expected to implement controls that match their risk level and operational complexity.

What industries are most vulnerable to proliferation financing risks?

Industries dealing with dual-use goods, advanced technologies, chemicals, and logistics are particularly exposed. Financial institutions supporting international trade also face elevated risks.

How can small businesses ensure compliance with proliferation financing regulations?

Even SMEs should implement basic risk assessments, maintain up-to-date sanctions screening tools, and train staff on red flags related to trade-based money laundering and dual-use items.

Are there international standards for combating proliferation financing?

Yes. The Financial Action Task Force (FATF) provides global guidelines, including Recommendation 7, which focuses on targeted financial sanctions related to proliferation.

What are “dual-use goods” and why are they significant?

Dual-use goods are items that can serve both civilian and military purposes. Their trade is tightly regulated due to the potential for misuse in weapons development.

How often should proliferation financing risk assessments be updated?

Best practice suggests reviewing risk assessments annually or whenever there are significant changes in business operations, customer profiles, or geopolitical developments.

What is an anti-money laundering check?

As per Experian, AML checks “help prevent money laundering by confirming potential customers and businesses are who they say they are, and assessing how likely it is they’re involved in financial crime. For entities regulated by the Financial Conduct Authority (FCA), this due diligence is considered essential and is a legal requirement”.

What is anti-money laundering compliance?

Following AML laws, regulations and procedures to detect and stop suspicious and illicit money flows, including fraud and terrorist financing.