Under a new program, the Justice Depatment will offer cash rewards for tips on criminal financial misconduct.
Deputy Attorney General Lisa O. Monaco speaks at the U.S. Department of Justice on April, 21, 2023. new corporate whistleblower program
Deputy Attorney General Lisa O. Monaco said the initiative aims to replicate the success of other federal agencies whose whistleblower rewards programs have generated thousands of tips of alleged misconduct and leads on lucrative criminal cases. Whistleblowers must provide information that lead to forfeitures of at least $1 million to be eligible for a payout, officials said.Monaco said the program aims to build on the department’s focus on curbing white-collar crime and bolstering incentives for corporate leaders to voluntarily self-report misconduct or face stiffer legal penalties if they fail to do so.
The department is modeling the new program after similar ones in other federal agencies, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, officials said.The SEC received 18,000 tips in fiscal 2023, up nearly 50 percent from a year earlier, and paid a record $600 million to 68 whistleblowers. The CFTC received 1,530 tips and paid seven whistleblowers a total of $16 million last year., that law is limited to civil cases involving abuse of the U.S.
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