The Justice Department on Thursday unveiled a new corporate whistleblower program targeting foreign corruption and financial fraud, which authorities said could help result in billions of dollars in forfeitures each year.

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Deputy Attorney General Lisa O. Monaco said the initiative aims to replicate the success of other federal agencies whose whistleblower rewards programs have generated thousands of tips of alleged misconduct and leads on lucrative criminal cases.

Under the Justice Department’s initiative, tipsters who are first to provide the department with information of corporate wrongdoing that leads to a successful prosecution or settlement could be eligible for up to 30 percent of the first $100 million in company forfeitures and 5 percent on additional proceeds up to $500 million.

Whistleblowers must provide information that lead to forfeitures of at least $1 million to be eligible for a payout, officials said.

Monaco said the program aims to build on the department’s focus on curbing white-collar crime and bolstering incentives for corporate leaders to voluntarily self-report misconduct or face stiffer legal penalties if they fail to do so.

Companies that disclose wrongdoing to the Justice Department within 120 days of discovering the misconduct and cooperate with federal investigators will receive more leniency, authorities said.

“We think this changes the calculus,”...

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