Our data shows the number of new whistleblowing reports we received between July and September 2024, and existing reports closed during this time period.
The data shows:
- how we received the report
- what the report was about
- what level of action we have taken
We assess every whistleblowing report we receive that falls within our remit, to inform our work and help us identify actual or potential harm. This could be harm to consumers, to markets, to the UK economy or to wider society.
What we can share
We know that greater transparency about the whistleblowing reports we receive is important and we are constantly trying to improve the information we make public.
However, our reviews will usually involve confidential information restricted by the Financial Services and Markets Act 2000 (FSMA), including that relating to our supervision and enforcement work. This restriction may limit the information we can share with whistleblowers.
Whistleblowing reports
Our whistleblowing team receives reports by telephone, email, our online reporting form and post.
In this quarter (Q3 2024, July to September), we received 322 new whistleblowing reports.
For the same period in 2023 the team received 280 reports.
In 2024 Q2 (April to June), we received 253 reports.
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Data table
Figure 1: Method of contact (2024 Q3). Source: FCA whistleblowing data
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| Method of contact | Q3 2024 |
|---|---|
| Online reporting form | 159 (49%) |
| 57 (18%) | |
| Telephone | 70 (22%) |
| Other | 28 (9%) |
| Letter | 8 (2%) |
Figure 1 shows that we received the biggest proportion of our new reports in 2024 Q3 via our online reporting form.
Contact details for whistleblowers
Protecting the identities of the whistleblowers who contact us is vital. We understand individuals may be hesitant to share their personal information with us when making a disclosure.
It is helpful when whistleblowers provide us with an ongoing contact option such as a phone number and/or email address. This allows us to:
- re-engage and develop on disclosures
- ask further questions
- keep individuals informed on how we can protect their identity whilst we carry out our work
Our whistleblowing team reviews all reports to make sure we manage information from whistleblowers appropriately. We will redirect any information we get from consumers or firms to other relevant teams to consider, such as our Supervision Hub.
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Data table
Figure 2: Whistleblower confidentiality (2024 Q3). Source: FCA whistleblowing data
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| Category | Whistleblowers |
|---|---|
| Anonymous | 34% |
| Identity shared | 66% |
Figure 2 shows that in most of the reports we received in 2024 Q3, whistleblowers provided us with their contact details.
Whistleblowing allegations
Every report we receive will contain one or more allegations of wrongdoing. We received 322 reports in this quarter, containing 910 allegations in total.
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Figure 3: Top allegations reported by whistleblowers in Q3 2024. Source: FCA whistleblowing data
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| Category | Reports |
|---|---|
| Compliance | 197 |
| Fitness propriety | 122 |
| Consumer detriment | 119 |
| Culture of organisation | 89 |
| Fraud | 46 |
| Systems and controls | 42 |
| Consumer Duty | 37 |
| Data security | 30 |
| Unauthorised business | 21 |
| Misselling | 21 |
| AML | 21 |
In Figure 3 we list the top allegations made in whistleblowing reports between July and September 2024.
Closed whistleblowing reports
We closed 530 whistleblowing reports between July and September 2024:
- significant action to manage harm in 28 reports (5%) – this may include enforcement action, a section 166 skilled person report, or restricting a firm’s permissions or an individual’s approval
- action to reduce harm in 251 reports (47%) – this may include writing to or visiting a firm, asking a firm for information, or asking a firm to attest to complying with our rules
- 206 reports (39%) informing our work, including harm prevention, but no direct action
- 25 reports (5%) not considered indicative of harm, but the information was recorded and will be available for future reference
- 20 reports classified as other (4%)