Watchdog Organization

A watchdog organization is a body that keeps watch over governments, companies, markets or professions and raises the alarm when it finds misconduct, waste or harm to the public. Some are official, such as auditors-general, ombudsmen and inspectors; others are independent charities, campaign groups or investigative newsrooms. In financial journalism "watchdog" is also used loosely for a financial regulator, as in "the UK's financial watchdog" for the Financial Conduct Authority. Official watchdogs may have power to investigate and take enforcement action, while private ones rely on research, publicity and lawsuits. Many depend on tips from whistleblowers. In crypto, independent researchers and analytics firms often play a watchdog role by tracing hacks and scams on public ledgers. Also see self-regulatory organisation.