What is a whistleblower?

Internal fraud is often caught by an employee.

The employee who sounds the alarm is called a whistle-blower.

The whistleblower is someone who reports fraud to the authorities.

Whistleblowers fear retaliation for outing a manager or other employee.

Those who want protections for keeping their job or avoiding criminal charges must follow these rules:

The whistleblower must have good reason to suspect the fraud.

The whistleblower must take steps to report the fraud to the authorities.

The whistleblower must refuse to join the fraud.

The whistleblower must testify against the fraudsters.

Cases involving the government can involve additional penalties.

If you suspect fraud then follow these steps:

Collect all the relevant information.

Protect yourself and your accounts.

Report the fraud to the authorities.

Check for any insurance coverage against fraud.

Fraud is often found by internal employees so beware of the activities of others.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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Disclaimer:
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.