Information Technology
Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
To help empower others to come forward, the whistleblowers are reclaiming the terms "snitch", "rat" and "traitor".
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization "'might implode in a wave of accounting scandals." Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply 'The Whistleblowers.'
Sarah Carver and Jennifer Griffith are the stars of Apple TV's The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated - the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
When asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
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The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024 .
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 - 05/07/24 . Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
Medius@fightorflight.com / +44 330 133 0985
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