Banking Act § 99 BWG (Austria)


According to the implementation of an EU Directive, banks and financial institutions in the European Union must establish adequate measures, in order for their employees to be able to confidentially and anonymously report on criminally-relevant actions within the company. Employees who report such acts are to enjoy comprehensive protection.


Whistleblowing systems in Austria must be registered with the data protection authority and must meet the following criteria, among others: It is predominantly senior executives that are accused of serious violations. The whistleblowing system must be strictly separated from the other parts of the Group, the data must be deleted at the end of the process, the whistleblower's anonymity must be at least externally secured (unless the accusations are deliberately false).