Whistleblowing като антикорупционен механизъм в банковия сектор
Whistleblowing as an Anti-Corruption Mechanism in the Banking Sector

Author(s): Inna Mincheva
Subject(s): Politics / Political Sciences, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Law on Economics, Financial Markets, EU-Legislation, Corruption - Transparency - Anti-Corruption
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: whistleblowing; anti-corruption control; banking sector; corruption risk; internal control
Summary/Abstract: This paper examines whistleblowing mechanisms as a key component of anticorruption control in the banking sector. The analysis focuses on the role of reporting systems in preventing and enabling the early detection of corrupt practices within an environment characterized by high regulatory complexity, significant operational discretion, and substantial reputational risk. The main objective of the study is to assess the practical effectiveness of whistleblowing systems and to identify the factors that influence employees’ willingness to report detected or suspected irregularities. The research is based on an empirical approach that combines quantitative and qualitative methods. A structured survey was conducted among banking sector employees performing functions related to internal control, compliance, internal audit, and risk management. In addition, expert interviews were carried out with representatives of control and supervisory units within banking institutions. The analysis examines the level of employee awareness of reporting procedures, the degree of trust in whistleblowing mechanisms, the perceived level of protection for reporting persons, and the impact of organizational culture on reporting behavior. The findings indicate that although whistleblowing mechanisms are formally established in most banking institutions, their practical use remains limited. A higher willingness to report irregularities is observed in organizations where procedures are clearly defined, protective measures for reporting persons are effectively implemented, and managerial support is visible and consistent. Conversely, fear of negative consequences, insufficient employee awareness, and the formalistic application of internal rules represent major barriers to the effective functioning of whistleblowing systems. The conclusions emphasize that whistleblowing mechanisms should be regarded as a preventive anti-corruption tool whose effectiveness depends on their integration into a broader organizational and governance framework. Such a framework should be based on clear internal rules, reliable safeguards for confidentiality and protection, and an organizational culture that actively promotes integrity, transparency, and trust within the banking sector.

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