Being a whistleblower in an investment bank isn’t easy. As we reported back in March, there’s little protection for people who blow the whistle. “Banks will always punish you and you will never be able to get a job again,” one (out of work) whistleblower informed us. “Literally everyone I know is frustrated at their inability to escalate issues without risking their jobs,” said another.
In the circumstances, Goldman Sachs’ publicly accessible ‘Integrity Hotlines’ look interesting. We’d like to suggest that they’re new as we’ve noticed them before, but they may have been lurking on the Goldman website for months. The firm didn’t respond to a request for comment on their launch.
Use of the hotlines isn’t restricted to employees. Members of the public can also call up with ‘integrity concerns.’ Goldman says, ‘all matters are carefully reviewed and investigated with the highest discretion.’
So what happens when you dial the number? “There are no restrictions on the types of incidents that can be reported,” according to a recorded message. You don’t have to give your name, but they’d prefer it if you did. After that, you’re directed to a lacklustre call centre. Does Goldman Sachs get many integrity complaints? “Ma’am, I can’t tell you that,” was the answer.