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Whistleblowers offered up to £100,000 in cartel crackdown

The Competition and Markets Authority has launched the "Cracking Down on Cartels" campaign that is set to offer whistleblowers up to £100,000 if they report on illegal activity in the financial services sector.

Currently, businesses that are found guilty of operating in illegal cartels can be fined up to 10% of their annual turnover, with implicated individuals facing up to five years in prison and directors facing disqualification from director positions for up to 10 years. Speaking on the crackdown, the CMA’s acting Chief Executive, Andrea Coscelli, said “Cartels are both harmful and illegal, and the consequences of breaking the law are extremely serious. That is why we are launching this campaign".

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