BNM strives to conduct its business with integrity, competence and professionalism while achieving the highest level of effectiveness and excellence. To uphold this aspiration, BNM must detect and deal with improper conduct. One way of detecting this is through whistleblowers.
Whistleblowers who come forward in good faith with information on actual or potential improper conduct are protected under the Whistleblower Protection Act 2010. This Act requires the authorities receiving the complaint to protect the whistleblowers' identities, provide them with immunity from civil and criminal proceedings, and protect them from detrimental action.
Disclosure of "improper conduct"
Disclosure may be made to BNM if it relates to an ¡°improper conduct¡±, committed or about to be committed, involving:
- criminal offences by BNM¡¯s officers, employees and directors including fraud, corruption or abuse of power;
- misuse of BNM¡¯s funds or assets;
- gross mismanagement within BNM;
- breach of BNM¡¯s Code of Conduct by its officers and employees;
- breach of BNM¡¯s Vendor Code of Conduct by its vendors;
- failure to comply with the provisions of the laws administered by BNM by any person;
- assisting a person to commit any of the above instances of improper conduct; and
- detrimental action taken against whistleblowers or persons closely associated with whistleblowers.
It is advisable for a potential whistleblower to consider whether the alleged improper conduct to be disclosed to BNM falls within any of the above, prior to making the disclosure. The potential whistleblower should also consider whether the intended disclosure is specifically prohibited by any written law such as the Official Secrets Act 1972. In this regard, potential whistleblowers may wish to seek legal advice from a legal practitioner before making the disclosure to BNM.
Protections given
As a statutory body entrusted with regulatory, supervisory and enforcement powers, BNM is committed to provide the whistleblower protections as outlined under the Whistleblower Protection Act 2010 and the laws administered by BNM.
The following protections will be accorded to a whistleblower who makes a disclosure of improper conduct to BNM in good faith:
- confidentiality of information;
- immunity from civil and criminal liability for the disclosure made; and
- protection from detrimental action.
Exclusion from Protection
Potential whistleblowers are also reminded that there may be instances wherein their protection would be revoked or excluded. The whistleblower protection does not extend to the following disclosures and will be revoked by BNM pursuant to section 11 of the Whistleblower Protection Act 2010:
- where the disclosures of improper conduct which are:
- frivolous or vexatious;
- principally questioning the merits of government policy, including policy of a public body;
- known to the whistleblower to be false or untrue; or
- made solely or substantially to avoid dismissal or other disciplinary action;
- where the whistleblower has participated in the improper conduct so disclosed;
- where the whistleblower commits an offence under the Whistleblower Protection Act 2010; or
- where the disclosures of improper conduct contain information specifically prohibited from being disclosed under any written law such as the Official Secrets Act 1972.
Any person who makes a disclosure of improper conduct to BNM, knowing or believing that any material statements in the disclosure is false or untrue commits a criminal offence under the Whistleblower Protection Act 2010.
How to whistleblow?
Any disclosure of improper conduct that concerns BNM must be made to any of the relevant Designated Person through the specific communication channels.
Whistleblowers are advised to make their disclosures in writing and to provide sufficient details which include the following:
- the type or description of improper conduct;
- the name of individuals who have committed or are involved in the improper conduct; and
- the ¡®how¡¯, ¡®what¡¯, and ¡®where¡¯ in relation to the improper conduct including supporting documents or evidence, if any.
Whistleblowers are encouraged to provide their identities or contact details to facilitate BNM to clarify or obtain further information for purposes of further investigation into the improper conduct. Any person who elect to remain anonymous is advised that no whistleblower protection will be accorded and BNM¡¯s ability to investigate the alleged improper conduct is limited to the extent of the contents of the report received by BNM.
Whistleblowers will be informed by the Designated Person of the outcome of the investigation and action taken, if any, by the appropriate disciplinary authority or the other appropriate authority, the employer or the other appropriate person or the Public Prosecutor, as the case may be.
Designated Persons
Below are the specific communication channels of the relevant Designated Person:
| No. | Person Being Reported | Designated Person | Submission Channels | ||
|---|---|---|---|---|---|
| Email (softcopy) | or | Letter (hardcopy) | |||
| 1 |
|
General Counsel or |
Complete this form and attach it in the email to the General Counsel | Please include the relevant form and supporting documents into sealed envelope(s) with indicative labels such as ¡°To be opened by [Name of the Designated Person] only¡±, addressed to:
[Name of the Designated Person] |
|
| Director of LINK and BNM Offices | Complete this form and attach it in the email to the Director of LINK and BNM Offices | ||||
| 2 |
|
Governor | Complete this form and attach it in the email to the Governor | ||
| 3 | Governor | Chairman of Board Governance Committee | Complete this form and attach it in the email to the Chairman of Board Governance Committee | ||
* The relevant email address is specified under Important Notice and Part G of the form.
Kindly submit your whistleblowing report against the alleged person to only one(1) appropriate Designated Person via the provided email or mailing address. Please do not submit the same report to multiple Designated Persons to avoid redundancy.
General enquiry or complaint
If the subject matter of the disclosure is other than ¡°improper conduct¡±, such as a general enquiry on conventional and Islamic banking, or a complaint on products or services provided by any financial institutions regulated by BNM, members of the public may contact BNMLINK for further information.
Visit the Enquiries & Complaints page
