When Canada introduced provisions on whistle-blowers, in a way it wanted to copy what was being done in the United States. We know that, at the time, a whistle-blower from the Swiss banking group UBS had alerted the IRS, the U.S. revenue agency, to a fraud case. In the end, the whistle-blower was awarded more than $100 million from the IRS for blowing the whistle, but he also served several years in prison for informing authorities.
However, I don't know enough about Canadian mechanisms regarding whistle-blowers because I haven't made enough of an effort to see how they've evolved. We may have a good system, except that there's a contradiction between section 241 of the Income Tax Act, which prevents officials from providing information, and legislative provisions respecting whistle-blowers. I haven't checked which provision takes precedence over the other.