I read an interesting article last week by Joelle Scott about the “secret” whistle-blower at BNY Mellon. It turns out that Grant Wilson was the undercover whistle-blower who detailed how the bank had allegedly overcharged investors in their currency trades and defrauded investors for years.
This from the article… “So what is shocking about the BNY whistleblower is not that he exists but rather that he worked in conjunction with attorneys, regulators and fraud heroes to provide evidence for a massive lawsuit against his employer (the Justice Department and the NY Attorney General are seeking over $2billion from the bank). This is almost as shocking as when the government used wiretaps to confirm and reveal the enormous insider-trading ring orchestrated by Raj Rajaratnam and his cohorts.”
In a shady world of fraud and corruption, law enforcement is to be applauded for making inroads by planting undercover agents into corporations or getting increased help from insiders.
But coming from the Information Security business, it does make me think about the people we work with that we take for granted on a day-to-day basis. Not if they are potential whistle-blowers, but the opposite. Are any of these colleagues working on the dark-side: do they have relationships with corrupt organizations, are they providing sensitive information to competitors? Do they have relationships that might be harmful to the company? Bar a cursory background check when an employee enters a company, the truth is, we really don’t know.
Worse, we only potentially find out once a crime has been committed, long after the horse has bolted from the stable.
And that is why Catelas is all about Relationships – it all comes down to ‘who you know’.