New rules aim to incentivize citizen journalists to report misuse of federal funds.

NYC Today

The U.S. Treasury Department is implementing a formal whistleblower program through FinCEN that will reward individuals who provide timely, actionable information on fraud, sanctions violations, and other illicit finance crimes related to federal programs. Whistleblowers could receive 10% to 30% of monetary penalties collected if their tips lead to successful enforcement actions by Treasury or the Department of Justice.

Why it matters

The program aims to empower citizens to help expose waste, fraud, and abuse of taxpayer dollars in government programs, which has become a growing concern for many Americans. By incentivizing whistleblowers, the Treasury hopes to uncover large-scale fraud schemes that have drained billions from initiatives meant to help people in need.

The details

The new whistleblower rules, proposed for the Federal Register, would create formal procedures for submitting information securely and applying for awards. Eligibility, award claim evaluation, and whistleblower protections are also outlined. The program is authorized under the Anti-Money Laundering Act of 2020 and the Anti-Money Laundering Whistleblower Improvement Act of 2022.

• The Treasury Department recently launched a whistleblower portal to make it easier for people to come forward with information.
• The proposed rules for the whistleblower program have been submitted to the Federal Register for...

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