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Labor to make it easier for whistleblowers to come forward
Following the submission of the final report from the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the federal Labor Party pledged to better protect and reward whistleblowers to crime and misconduct.
Jerome Doraisamy
In a joint statement, Opposition Leader Bill Shorten, shadow attorney-general Mark Dreyfus and shadow minister for financial services and shadow minister for justice Clare O’Neil said a Labor government would set up a Whistleblower Rewards Scheme, establish a Whistleblower Protection Authority, pass a Whistleblowing Act and fund a special prosecutor to bring corporate criminals to justice.
“This shouldn’t be the case, and Labor doesn’t want to see good people punished for doing the right thing.”
The proposed Rewards Scheme would allow whistleblowers to receive a percentage of the penalties arising out of wrongdoing that they reveal, with the relevant investigative or law enforcement agency having discretion to determine the level of the reward within a legislated range and funded by penalties collected by government.
The Protection Authority would serve as a “one-stop-shop” to support and protect whistleblowers, having dedicated staff to advise people on their rights, assist them in disclosures and help them access compensation if reprisals are faced.
And the prospective new legislation would aim to consolidate all mainstream whistleblowing legislation, the trio said, so people can properly understand how they are protected.
These three proposals will, Labor said, be a “major shake-up of Australia’s whistleblowing regime”.
“The banking royal commission has highlighted appalling and even criminal misconduct in the banking sector. It was only possible because brave whistleblowers and bank victims came forward – and Labor listened,” the statement said.
“The Liberals did everything they could to protect the banks from the royal commission and keep this misconduct hidden. Scott Morrison voted 26 times against the banking royal commission, and he wants to give the banks a massive tax handout.”
“Labor is committed to cracking down on misconduct and corruption in the banking and financial services sector.”
Responding to the pledges, NSW Women Lawyers president Larissa Andelman tweeted that “More transparency, accountability and proper auditing can only do good”.
Transparency International Australia chair Fiona McLeod SC also tweeted her support, writing that “we must do more to create a culture of transparency and accountability”.
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly and HR Leader. He has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. In June 2024, he also assumed the editorship of HR Leader. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of the Minds Count Foundation.
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