Introducing Confide, a new whistleblowing platform created by Pav Gill, the whistleblower behind the Wirecard scandal. Confide aims to provide a safe and secure way for employees to report company wrongdoings, while also helping companies avoid media leaks. Gill’s personal experience with the lack of proper systems and institutions for whistleblowing inspired him to create this platform, which incorporates encrypted keys and the option for whistleblowers to remain anonymous. With the upcoming deadline for EU companies to establish internal reporting systems, Confide offers a timely solution that benefits both employees and organizations.

Introduction

In the wake of the Wirecard scandal, which highlighted the need for effective whistleblowing mechanisms within organizations, a new startup called Confide has emerged. Founded by Pav Gill, the whistleblower who exposed the financial wrongdoing at Wirecard, Confide aims to provide a secure and reliable platform for employees to raise concerns about company wrongdoings. The platform also aims to help organizations avoid media leaks and promote management accountability. With the introduction of new EU whistleblowing regulations, Confide presents an opportunity for companies to comply with the directive and create a safer environment for whistleblowers.

Background on Wirecard Scandal

The Wirecard scandal was one of the biggest stories in European fintech in recent years. The German payments processor was found to have engaged in fraudulent accounting practices, leading to its eventual downfall. The key figure in uncovering these practices was Pav Gill, who served as Wirecard’s legal counsel. Gill’s findings were dismissed by company executives, and he faced threats to his safety and sabotage of his future job prospects. This led him to go to the media as a last resort to expose Wirecard’s wrongdoing.

Creation of Confide

Following his experience as a whistleblower at Wirecard, Pav Gill teamed up with Ryan Dougherty to create Confide, a whistleblowing platform. The aim of Confide is to provide a safe and confidential space for employees to report company misdeeds without resorting to leaking information to the media. The platform seeks to encourage transparency within organizations and prevent the hiding of issues by management.

Purpose of Confide

The main purpose of Confide is to facilitate safe whistleblowing within organizations. By providing a secure platform for employees to report concerns, Confide aims to protect whistleblowers from retaliation and create a culture of accountability. Additionally, the platform aims to prevent media leaks by providing an internal reporting system that employees can trust.

New EU Whistleblowing Regulation

In response to the need for stronger whistleblower protections, the European Union has introduced a whistleblowing directive. This directive requires companies with 50 or more employees to establish a robust internal reporting system for whistleblowers. The deadline for compliance with this directive is approaching, creating an opportunity for Confide to offer its services to companies that are scrambling to meet the requirements.

Functionality of Confide

Confide is designed to target companies of all sizes. The platform sits externally, ensuring that employers cannot intervene with the data shared on it. It incorporates several protections for employees, including encrypted keys to prevent tracking of their IP. Whistleblowers can choose whether or not to reveal their identity. Once a report is submitted, the company has one week to acknowledge receipt and three months to investigate and provide a response to the whistleblower. This response is downloadable, allowing the whistleblower to assess whether the case was handled appropriately. If they feel it was not, they have the option to escalate the case to the media or the relevant regulatory authority.

Outsourced Case Manager

As part of the new EU directive, every company must have an independent and unbiased designated person to manage whistleblowing cases internally. Confide offers the option for companies to outsource this role to the platform. Gill and Dougherty, with their experience as whistleblowers, provide their own legal expertise as case managers. This outsourced case manager function is particularly relevant for startups that may not have the resources to hire someone for this role full-time.

Existing Whistleblowing Platforms

There are already several whistleblowing platforms in existence, ranging from legacy software companies to newer startups. However, Confide aims to differentiate itself through Pav Gill’s personal experience as a whistleblower. He hopes that his firsthand knowledge of the challenges and risks faced by whistleblowers will make Confide a trusted source for both employees and companies.

Unique Selling Point of Confide

Confide’s unique selling point lies in its combination of secure and confidential reporting, compliance with EU whistleblowing regulations, and the option to outsource case management. By offering an all-in-one solution, Confide aims to provide companies with a comprehensive platform for addressing whistleblowing concerns while ensuring the safety and protection of whistleblowers.

Launch and Future Plans

Confide plans to launch in October of this year, starting with an initial controlled group of clients. The platform aims to attract companies of all sizes, and investment plans are underway to support its expansion. With the intention of scaling the team, Confide aims to provide its outsourced case manager service to an increasing number of companies in need of whistleblower support.

In conclusion, Confide presents a promising solution for companies seeking to comply with EU whistleblowing directives and create an environment of accountability and transparency. By leveraging the experience of whistleblowers like Pav Gill, Confide aims to provide a secure and reliable platform for employees to report concerns and avoid resorting to media leaks. With its launch on the horizon, Confide has the potential to make a significant impact in the field of corporate whistleblowing.