The U.S. Treasury Department has launched a new whistleblower program aimed at cracking down on fraud and recovering potentially billions in stolen taxpayer funds, officials announced this week.
Treasury Secretary Scott Bessent said the initiative is designed to encourage individuals to report financial misconduct by offering significant financial rewards. The program will be administered by the Financial Crimes Enforcement Network (FinCEN), which focuses on combating money laundering and financial crimes.
Under the new system, whistleblowers could receive between 10% and 30% of any funds successfully recovered as a result of their tips. The program targets a wide range of financial crimes, including fraud involving Medicare and Medicaid, misuse of government relief funds, COVID-era assistance programs, sanctions violations, and breaches of the Bank Secrecy Act.
Officials say the effort could help recoup “hundreds of billions of dollars” lost to fraud. Bessent likened the initiative to a “see something, say something” approach, urging the public to report suspicious activity through an online submission system. According to early figures, the Treasury has already received hundreds of tips since the program’s rollout.
The whistleblower program is part of a broader push by the administration to combat financial crime, including the creation of a federal task force focused on eliminating fraud. That effort has been associated with Vice President JD Vance, who has backed...
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