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SEC granted whistleblower awards to whistleblowers who provided information that contributed to success of enforcement action. One whistleblower received 9 million the second received 3 million. SEC Whistleblower Program rewards original information that leads to enforcement
Congress included Anti Money Laundering Whistleblower Improvement Act in omnibus budget presented to President Biden who signed Act into law. Improvement Act contained key amendments to Anti Money Laundering Act aligning program with successful federal whistleblower programs
While crypto scams and frauds have taken spotlight, companies are still using accounting fraud to cook the books. A new study estimates that in an average year 41% of publicly traded companies misrepresent their financial report, one-third corporate frauds come to light.
Securities and Exchange Commission SEC issued $3 million whistleblower award to individual who voluntarily provided original information that led to a successful SEC enforcement action. Qualified whistleblowers entitled to monetary awards of 10-30% of funds collected by SEC.
Professor Alexander I. Platt at the University of Kansas School of Law draft of forthcoming paper Securities and Exchange Commission lack of transparency in whistleblower program, Going Darker: The SEC Whistleblower Program's FY 2022 Report Is The Least Transparent In Agency History.