Legal Question in Legal Ethics in Texas
Due Diligence
I work for the financial industry and am responsible for the security of literally hundreds of millions of dollars through peoples accounts; personal and business.
To my knowledge when we are aware of a security risk we are legally required to perform due diligence to protect this money.
This company falls far short of this and puts up a smoke screen for the auditors, does not provide full disclosure, and has zero accountability. This smoke screen is under the direction of the management.
The security risks I speak of would allow the most novice hacker to steal money and/or sensitive information in an instant. I feel obligated and compelled to report this but to whom? It's only a matter of time before we have a serious breach. This is no fly-by-night company; we are publically traded and have been in business for over 25 years.
Is this, and am I a case for whistleblower protection? If so, what is my next step?
Thank you.
1 Answer from Attorneys
Re: Due Diligence
Probably yes; find an experianced finance and employment attorney and pay for an hour of their time so they can help you decide what is the best course of action for you. For example you may find out that your concerns are not justified or that you should find a new position before coming out with this or that you should let a reporter come out with this so they take the heat instead of you. But don't simply do nothing because it sounds like management has been set up to take the fall; people higher up do know what is happening and they might not care that management will go to prision and they will go on a long trip abroad.
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