FCA whistleblowing reports jump 25% in Q2 2025

New data shows the FCA received 315 new whistleblowing reports in Q2 2025, up a quarter in the same period last year (253) and 12% quarter‑on‑quarter (281).

Erin Sims, Fraud Risk Services Director at RSM UK, said: “The surge in whistleblowing reports is a clear signal that more staff are choosing to speak up. It should also serve as a reminder for firms to review their whistleblowing procedures and ‘speak up’ culture given the growing scrutiny in this area from the regulator. This data lands just as the ‘failure to prevent fraud’ offence takes effect on 1 September 2025, raising the bar for large organisations to show they’re implementing reasonable procedures that prevent fraud by employees and other associated persons. Firms should be prepared for closer scrutiny of whistleblowing channels, how concerns are triaged, and how intelligence feeds into fraud‑risk controls.

“Add to that the FCA’s new rules on non‑financial misconduct, which extend conduct‑rule expectations on bullying, harassment and violence across tens of thousands of non‑banking firms from 1 September 2026.

“Whistleblowing protections under the Employment Rights Bill are also expected to be extended to include sexual harassment as a standalone category, as well as a duty to investigate protected disclosures for financial services firms. The direction of travel is unambiguous: review your whistleblowing arrangements now and invest in a speak‑up culture where concerns are raised early on and handled appropriately.”