Whistle-blower Incentivisation Schemes in the Fight Against Economic Crime: Global Lessons for the UK’s Future Economic Crime ‘Enabler’ Policy.
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PROJECT TEAM
Eliza Lockheart
Royal United Services Institute
Contact: ElizaL@rusi.org
Eliza Lockhart is a Research Fellow at the Centre for Financial Crime and Security Studies at RUSI. Her research examines matters at the intersection of law, finance, governance and security; with a particular focus on how regulation and evidence-based policy can promote democratic resilience and protect the rule of law against foreign interference. Eliza’s current projects include economic crime whistleblowing, state threats and political finance.
Eliza is a qualified solicitor and previously worked in the Risk and Compliance team of Linklaters in Australia. She has experience advising on anti-bribery and corruption matters, business and human rights obligations, disruptive technologies, and intellectual property law.
Kathryn Westmore
Royal United Services Institute
Contact: kathrynw@rusi.org
Kathryn is a Senior Research Fellow at the Centre for Financial Crime and Security at RUSI. She leads the Financial Crime Policy Programme which tracks the implementation and evolution of anti-financial crime policy both in the UK and globally. Her work focuses on anti-money laundering regulation and supervision, the policy response to fraud, corporate criminal liability and the role of new technologies. In 2022, she served as Specialist Advisor to the House of Lords Committee on Digital Fraud.
PROJECT SUMMARY
Illicit finance poses a universal threat to global stability and security, recognized by institutions such as the United Nations and G7. Addressing this issue has transitioned from being viewed solely as a criminal justice matter to a foreign policy one, evident in the UK's Integrated Review Refresh 2023. In this context, whistleblowers are increasingly recognized for their potential to combat illicit finance. This study investigates the efficacy of financial incentives for whistleblowers in providing valuable information and intelligence for economic crime investigations. It aims to answer two crucial questions:
How effective are whistleblower incentivisation schemes in driving the provision of actionable information and intelligence to the authorities to support economic crime investigations?
How viable might such approaches be in reducing the role of the UK’s ‘enabling’ sectors in the laundering of global illicit financial flows (IFFs)?
This project draws lessons from the experience of three different jurisdictions with diverse legal and cultural contexts and applies these to the UK’s policy development on whistleblowing in relation to economic crime. The project will place a specific focus on the ‘enabling’ of money-laundering via professional and financial services sectors; a key priority identified in the UK government’s Economic Crime Plan (2023-2026).
PUBLICATIONS
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