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A program established in 2010 to reward whistleblowers for reporting financial crime is straining under the weight of its own success, generating a volume of tips that makes investigations difficult.
The number of whistleblowers receiving awards from the Securities and Exchange Commission dropped sharply in fiscal year 2023, even as more tips poured in than ever before, and a single informant received the largest payout in agency history.
The number of whistleblowers receiving awards from the Securities and Exchange Commission dropped sharply in fiscal year 2023, even as more tips poured in than ever before, and a single informant received the largest payout in agency history.
The agency received more than 18,000 tips in the fiscal year ending Sept. 30, a 50 percent jump from the previous year, according to the SEC whistle-blower program’s annual report to Congress.
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