Get ready for a new initiative by the Department of Justice (DOJ) that will revolutionize the way whistleblowers are rewarded for their brave acts of reporting misconduct. The DOJ recently announced plans to roll out a new whistleblower program that will offer financial incentives to individuals who come forward with truthful information regarding criminal abuses of the US financial system, Foreign Corrupt Practices Act (FCPA) violations by private corporations, violations of the Foreign Extortion Prevention Act (FEPA) by foreign public officials, and domestic corruption.

The new program is expected to supplement existing programs administered by the US Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Internal Revenue Service (IRS), and Financial Crimes Enforcement Network (FinCEN), which are limited to civil misconduct within their respective jurisdictions. The DOJ’s program will cover a broader range of cases, and it will be particularly interested in tips about criminal abuses of the US financial system.

The program will offer rewards to whistleblowers who present original, truthful information that is not already known to the DOJ and is non-public. Once the victims of the specified crime have been compensated, the whistleblowers will receive their rewards. It’s important to note that the program does not offer immunity to individuals who participate in the misconduct that they disclose.

The pilot program for the new initiative is expected to be developed in the next three months, with a full roll-out planned for later this year. This is an exciting development that will encourage more people to come forward with information, and we’re looking forward to seeing the impact it will have on ensuring accountability and justice.