The U.S. Justice Department on Aug. 1 debuted its first-ever whistleblower program offering monetary awards to tipsters who report certain types of corporate misconduct, an effort designed to ratchet up the pressure on companies who face allegations of wrongdoing.
The program, which officials previewed in March, is designed to fill gaps in existing U.S. government whistleblower programs and incentivize both people with knowledge of corporate wrongdoing and companies who might be implicated to inform the government.
Related: Justice Department to Offer More Rewards to Corporate Whistleblowers
“We’re doubling down on a proven strategy to ferret out criminal activity that might otherwise go unreported,” Deputy Attorney General Lisa Monaco told reporters.
Under the program, which will run initially for three years, whistleblowers who report original information about certain corporate offenses will, if a prosecution results in a forfeiture of assets, be eligible to receive a certain portion of that penalty.
Tipsters can receive up to 30% of the first $100 million in asserts forfeited and up to 5% of those between $100 and $500 million.
It is the latest in a series of steps taken by the Justice Department during the Biden administration to pressure companies to voluntarily alert prosecutors about potential criminal activity in their ranks.
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