Scandal-rocked FIFA has sought to scrub up its image by bringing in ostensibly disinterested outsiders to fill oversight roles. Here, Steven A. Bank argues that internal whistleblowers are in fact better suited to improving the organizational culture that led to FIFA’s corruption.
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Whistleblower reward laws work, and they work remarkably well. Congress, the executive branch of government, and the business community should enact, support, and nurture strong whistleblower reward programs.
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Stephen Kohn, executive director of the National Whistleblower Center: “If your white-collar crime detection program is based on nice people having high moral values, corruption will flourish.”
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Ben-Artzi: “The problem is not that you have misbehavior on Wall Street. It’s that you have misbehavior by the people who are supposed to enforce the law, by the prosecutors, by the regulators.”
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Eric Ben-Artzi, the former Deutsche Bank risk officer turned whistleblower who rejected a multi-million dollar award from the SEC, will give a talk at the Stigler Center on Thursday via video conference.
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Studies consistently show that whistleblowers are motivated by moral reasons. The primacy of moral concerns makes sense, considering how frequently whistleblowers face exclusion and retaliation rather than personal gain.
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ProMarket interviews Eric Ben-Artzi, the former Deutsche Bank risk officer turned whistleblower who rejected an $8.25 million award from the SEC.
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