Whistleblowers will be offered up to £100,000 in an effort to uncover illegal cartels, the Competition and Markets Authority (CMA) has announced.
It forms part of its campaign to crack down on businesses which cheat their customers by agreeing not to compete with each other in order to keep their prices high.
The CMA says that it will encourage people who have witnessed illegal activity to report it, as well as promising them anonymity.
Andrea Coscelli, Acting Chief Executive, said: “Cartels are a form of stealing that cheat ordinary people as well as other businesses by undermining competition, and we are committed to tackling them wherever we find them. Cartels are carried out in secret to make you think you are getting a fair deal, even when you are being conspired against to keep prices high.
“Cartels are both harmful and illegal, and the consequences of breaking the law are extremely serious. That is why we are launching this campaign – to help people understand what cartel activity looks like and how to report it so we can take action.”
For more information, employees can visit the Stop Cartels website.
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