Whistleblowing

Banks occupy a central and trusted position within the financial system, serving as custodians of public funds, facilitators of economic growth, and pillars of financial stability. This trusted role places banks under heightened ethical, legal, and regulatory expectations. Any failure to identify, escalate, or address misconduct—whether related to fraud, money laundering, corruption, or regulatory breaches—can undermine confidence in the institution and pose significant risks to the wider financial system.

Given the complexity of modern banking operations, the expansion of digital channels, and the increasing regulatory scrutiny placed on financial institutions, not all misconduct can be detected through controls, systems, or audits alone. Whistleblowing has therefore emerged as a critical governance and risk-management mechanism, enabling employees and stakeholders to raise concerns early, confidentially, and responsibly. An effective whistleblowing framework strengthens transparency, reinforces accountability, and acts as a vital line of defense against financial crime and ethical failures.

In the Saudi banking context, whistleblowing carries particular importance due to the strong emphasis placed by regulators on governance, internal controls, and ethical conduct, as well as the need to align compliance practices with local legal requirements and cultural considerations. Establishing trust in reporting mechanisms, protecting whistleblowers from retaliation, and ensuring proper handling of reports are essential elements of a sound compliance environment.

In response to these imperatives, this training course has been developed to provide a structured and practical understanding of whistleblowing in banking, tailored specifically to the Saudi Arabian regulatory and cultural landscape. The program aims to equip participants with a clear understanding of whistleblowing principles, applicable regulatory expectations, internal reporting procedures, and the rights and responsibilities of all parties involved. Through practical examples and scenario-based discussions, participants will gain the knowledge and confidence needed to support a strong speak-up culture, enhance institutional integrity, and contribute to the long-term stability and reputation of their bank and the Saudi financial sector as a whole.

By the end of this course you will be able to:

Course Outline:

.1. Introduction to Whistleblowing in Banking

.Definition of whistleblowing and scope within banking institutions

.Objectives of whistleblowing frameworks

.Importance of whistleblowing in:

.Protecting financial integrity

.Preventing financial crime and misconduct

.Enhancing governance and transparency

.Ethical foundations:

.Integrity and accountability

.Fiduciary duty in banking

.Alignment with Islamic ethical principles (Amanah, responsibility, public interest)

.Whistleblowing as a component of sound corporate governance

.2. Regulatory and Legal Framework in Saudi Arabia

.Overview of the Saudi regulatory environment for whistleblowing

.Role and supervisory expectations of Saudi Central Bank (SAMA):

.Governance and compliance requirements

.Internal control and reporting expectations

.Key applicable laws and regulations:

.Anti-Fraud and Anti-Corruption legal framework

.Anti-Money Laundering and Counter-Terrorist Financing regulations

.Corporate governance regulations for banks

.Cybercrime and information security laws

.Role of other authorities:

.Oversight bodies and enforcement agencies

.Regulatory consequences of failure to detect or report misconduct

.3. Internal Whistleblowing Policies and Procedures

.Purpose and structure of an effective whistleblowing policy

.Governance ownership and policy approval

.Key policy elements:

.Scope of reportable concerns

.Eligibility to report (employees, contractors, third parties)

.Confidentiality and data protection safeguards

.Protection against retaliation:

.Non-retaliation commitments

.Disciplinary measures for retaliation

.Documentation, record-keeping, and audit trail requirements

.4. Identification of Reportable Issues in Banking

.Financial crime-related misconduct:

.Fraud (internal and external)

.Money laundering and terrorist financing

.Sanctions violations

.Ethical and conduct breaches:

.Corruption and bribery

.Conflict of interest

.Abuse of authority

.Regulatory and compliance violations:

.Breach of SAMA regulations

.Misreporting or concealment of information

Target Audience:

3 Days

Prerequisites:

This course entitles you to attend:

Upon successful completion of this course, participants will obtain:

Arabic

About Us

FLTC is a training center that helps organizations to enhance their efficiency through providing professional training solutions. Our professional team has a long experience in leading training industry in the kingdom. We analyze the current and explore the trends to prepare you for the future. Our practical training methodology, and qualified experts provide you with professional training environment. Our learning information system, quality control, and policies are designed to achieve the individual and corporate goals. Our experts with the support of our strategic partners are ready to satisfy your needs and support your success through Public Courses, Professional Certificates, and Customized Corporate Solutions.

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