Essays on Whistleblowing

Whistleblowing is an act of a person or persons, usually insiders, disclosing information about illegal or dishonest activities occurring within an organization to the public. The disclosure often involves exposing misconduct by the company’s senior management, such as bribery and corruption. Whistleblowers are typically employees who come forward with reports of wrongdoing in their workplace and make them known to the public through media outlets.When whistleblowing first became popularized in the 1970s, it was viewed as a moral obligation for those with knowledge of unethical behavior to speak up on behalf of others. These whistleblowers risked losing their jobs and reputations if they chose to do so. Today, many countries have laws protecting individuals who report corporate misdeeds from employer retaliation. In some cases, these laws also provide financial rewards for whistle-blowers if their claims turn out to be true. One example of how effective whistle-blowing can be occurred in 2009 when Goldman Sachs employee Greg Smith wrote a scathing essay that exposed unethical practices within the company which ultimately resulted in Goldman paying a $550 million fine for misleading investors about mortgage backed securities prior to the 2008 recession crisis. Since then, other organizations like Wells Fargo have also been forced into settlements after being accused of fraudulent practices due to whistleblower testimonies from former employees coming forth with evidence against them. Though whistleblowing carries risk and consequences for those involved; it is still seen as a noble act that has brought justice and accountability back into corporations who may otherwise get away with unlawful behaviors without consequence or retribution from law enforcement agencies or government regulators due to lack of resources needed for investigations into such matters.. It also helps protect consumers by bringing attention towards companies that go against accepted standards while providing transparency between businesses and customers alike regarding certain products services being offered before purchase decisions are made.