Whistleblower Programs with Monetary Awards

This blog with discuss how anyone can report their company by reporting acts of fraud, waste and abuse to Whistleblower Programs that payout huge awards.  Follow this blog and learn how to make money doing the right thing.

In the United States there is 4 Whistleblower Programs that award individuals when the Government collects money, some payouts have been over $100 million. 

1. Securities and Exchange Commission (SEC)

The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama on July 21, 2010, authorizes the SEC to pay an award to eligible whistleblowers. You may be eligible for a monetary award if the information you submit leads to an SEC action that results in monetary sanctions exceeding $1,000,000.

Related Link: http://www.sec.gov/about/offices/owb/owb-tips.shtml

2. U.S. Commodity Futures Trading Commission (CFTC)

The CFTC’s whistleblower program – which was created by the Dodd-Frank Act – allows for the payment of monetary awards to eligible whistleblowers, and provides anti-retaliation protections for whistleblowers who share information with or assist the CFTC.  The CFTC will pay awards to eligible whistleblowers who voluntarily provide us with original information about violations of the Commodity Exchange Act that lead us to bring an enforcement action that results in more than $1 million in monetary sanctions.

Related Link: http://www.cftc.gov/ConsumerProtection/WhistleblowerProgram/index.htm

3. Internal Revenue Service (IRS)

The IRS Whistleblower Office pays money to people who blow the whistle on persons who fail to pay the tax that they owe. If the IRS uses information provided by the whistleblower, it can award the whistleblower up to 30 percent of the additional tax, penalty and other amounts it collects.

Related Link: http://www.irs.gov/uac/Whistleblower-Informant-Award

4. “Qui Tam” Lawsuit Under the False Claims Act (FCA)

The FCA allows private persons to file suit for violations of the

FCA on behalf of the government. A suit filed by an individual on behalf of the government is known as a “qui tam” action, and the person bringing the action is referred to as a “relator.”

If the government intervenes in the qui tam action, the relator is entitled to receive between 15 and 25 percent of the amount recovered by the government through the qui tam action. If the government declines to intervene in the action, the relator’s share is increased to 25 to 30 percent.

Related Link: http://www.justice.gov/civil/docs_forms/C-FRAUDS_FCA_Primer.pdf