The whistleblower program operated under the auspices of the Securities and Exchange Commission had a banner year I 2018, receiving a greater number of tips than ever before, and paying out more in rewards to whistleblowers at the same time.
The program rewards people with insider information about fraud perpetrated on the government or the American public by providing them with financial rewards for coming forward with information that leads to successful recovery of funds.
The SEC’s whistleblower program has been in place since
Over 5,000 Whistleblower Tips Received This Year
According to the Office of the Whistleblower, a total of 5,282 tips were sent in this fiscal year, which is 18% more than were received in 2017. Calls originated from all over the United
Among the awards distributed this year was $83 million divided between three individuals and almost $54 million divided between two individuals. Though there has been some talk about making changes to the rewards system that would lower the amount that whistleblowers received, legal experts have pushed back on that proposal, indicating that lower rewards would impede the program’s success and stop people from coming forward with tips. In addition to financial rewards, whistleblowers are provided with retaliation protection.