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The
move is designed to make more efficient use of the growing role
whistleblowers are playing in uncovering bad behavior by
individuals and companies within the financial sector.
Bafin said the new office will centralize the collection of
details from whistleblowers and follow a special protocol to
ensure identities are kept secret. The watchdog can also be
contacted anonymously under the procedure.
"Protecting the people providing the information will have the
highest priority," Bafin said.
Whistleblowers and leaks to the media have exposed a series of
scandals in recent years, such as tax evasion or the setting up
of shell companies by global banks on behalf of
clients.[nL3N1781XE][nL2N1891KM]
A Luxembourg court this week handed out suspended sentences to
two former accounting firm employees who leaked data about
Luxembourg's tax deals with large corporations, highlighting the
problems of balancing some countries' secrecy laws while
protecting whistleblowers.[nL8N19L47B]
(Reporting by Jonathan Gould; Editing by David Goodman)
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