Most of the whistleblower tips received by the Commodity Futures Trading Commission (CFTC) in fiscal year 2023 related to fraud and misappropriation of crypto/digital assets.
The CFTC paid approximately $16 million to seven whistleblowers in FY23, which ended Sept. 30, according to the agency’s annual report to Congress on its whistleblower program. Of that figure, approximately $15 million was awarded to one of two whistleblowers in September. The other received about $300,000.
The agency received 1,530 whistleblower tips during FY23, slightly more than FY22 (1,506 tips) and roughly 50 percent more than it received in FY21 and FY20.
Whistleblower awards range from 10 to 30 percent of monetary sanctions collected from an enforcement case.
While it approved payouts to seven whistleblowers, the CFTC rejected the applications of 174 others in FY23, the report said.
The CFTC has issued 41 awards worth almost $350 million total since its whistleblower program was launched in FY10. Total sanctions in all CFTC whistleblower-related cases have topped $3 billion, the agency said.
The type of tips the agency received from whistleblowers in FY23 involved “activities including but not limited to market manipulation; spoofing; insider trading; corruption; illegal swap dealer business conduct; recordkeeping or registration violations; and fraud or manipulation related to digital assets, precious metals, and forex trading,” the report said.
Most tips, the report said, “involved...
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