Whistleblowing: how to turn compliance with upcoming laws into a business advantage

• Representatives of all sectors (financial, private and public)
• Members of the Board or management, incl. mayors and representatives from municipalities
• Internal auditors, compliance officers or risk managers
• Legal and HR department

In October 2019, the European Parliament passed the “Directive on the protection of persons who report breaches of Union law”. In May 2023, the Bill 7945 transposing the EU Directive 2019/1937 into Luxembourg national law was adopted by the Parliament. With the transposition of the Directive, all entities in the financial sector, private sector entities with at least 50 employees and all public entities including communes with at least 10,000 inhabitants are mandated to implement an internal whistleblowing system.

Beyond the legal requirement, the introduction of a whistleblowing system offers numerous advantages. Despite potential associations with defamation or black mouthing, it is a powerful tool to detect fraud and enhance processes when properly established. According to a report of the Association of Certified Fraud Examiners, a “tip” was the most common source to detect cases of fraud within a company.

In collaboration with the Forensics team, PwC Academy offers a training highlighting the key requirements of the Luxembourg's Whistleblowing law. It will also explain necessary accompanying processes to ensure the proper use of the whistleblowing system. Participants will gain practical tips for the setting up and operating the system as well as handling and investigating allegations.

As part of the Forensics team, our trainers bring valuable first-hand experience with actual investigations and whistleblowing cases.

By the end of this training, participants will be able to:

• understand the different requirements set out by the whistleblowing law;
• explain the organisation of a standard whistleblowing case;
• discuss the need for whistleblower protection;
• promote awareness of integrity principles and manage risks related to misuse, data protection, and confidentiality;
• identify the starting points within their organisation for the implementation of a whistleblowing system.

Regulatory aspect:

• Whistleblower Protection Directive - legal requirements and implications
• Internal and external reporting channels and material scope of breaches

Technical aspect:

• Existing whistleblowing systems in other countries
• Criteria for the selection of a tool
• Do’s and Don’ts for the successful implementation of a whistleblowing system

Day-to-day operations:

• Definition of processes and elaboration of procedures
• Discussion of the different stages of a whistleblowing case
• Internal investigations and cooperation with authorities
• Abuse of whistleblowing lines and noise
• Data protection considerations
• Real-life examples

This training is coordinated by Michael Weis, Partner at PwC Luxembourg and will be given by directors and managers who benefit from a strong professional experience in this area.

Michael leads PwC’s Forensic Services practice and AML taskforce, overseeing investigations, remediation projects, and high-profile AML audits for banks and investment funds. He is the key contact for AML distribution due diligence in asset management and works closely with PwC’s global forensic network on international projects. As certified fraud examiner, Michael is recognized as an AML and forensic expert and actively contributes to industry working groups on fraud at the Institute of Internal Auditors (IIA) and the Institut Luxembourgeois des Administrateurs (ILA). He regularly conducts workshops and training on AML and fraud in Luxembourg and abroad.