Australia lags a long way behind other G20 countries when it comes to whistleblower protection laws, a new report claims.

Melbourne and Griffith University researchers compared the safeguards offered by each of the world's leading economic powers to those who try to expose wrong-doing.

They concluded that Australia has significant room for improvement, particularly in the private sector.

The G20 has identified fighting corruption as a major part of its agenda, saying it results in losses of around $1 trillion in revenue every year.

It made commitments in 2010 and 2012 to protect whistleblowers.

One of the report authors, Suelette Dreyfus, said Australia ranked around the middle of the G20 nations - behind similar countries like the US and the UK.

"I don't think that average is good enough, really," she said.

"Australia should be charging ahead and leading the way in private sector coverage as well.

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"And there's no reason not to. It's made a commitment to do this.

"While there's been significant advances over the last few years compared to where we were at in say 2010, there's still a long way to travel.

"And the biggest area that needs some attention is around whistleblower protection laws applying to the private sector."

The research group, Blueprint for Free Speech and Transparency International Australia, put together its report in the run-up to November's G20 meeting in Brisbane.

Dr Dreyfus said she believed the benefits that whistleblowers brought were often overlooked.

"They ensure that taxpayer money isn't wasted on fraudulent activities. They ensure that our consumer products we buy at the supermarket or cars, that sort of thing, are safer," she said.

"Whistleblowing is a kind of collective moral conscience. It's quite a cost-effective way for stopping things like fraud in companies and in governments."

One man who has already tried to shine a light on what he saw as corruption said his experience had not been pleasant.

Brian Hood, former company secretary at the Reserve Bank-owned Note Printing Australia, blew the whistle on bribery and kickbacks allegations.

"I didn't get the sort of protection that I expected. I lost my job. I was made redundant," he said.

"I'd like to see for people now a very clear process - something that's written down, black and white, not only the whistleblower has to follow but that the organisation would be obliged to follow as well."