The DOJ’s recently announced pilot pay program for whistleblowers aims to provide another tool in the U.S. government’s arsenal for weeding out white-collar crime, including programs at the SEC, IRS and Commodity Futures Trading Commission (CFTC). Chris Hoyle of StoneTurn shares insights about the current corporate whistleblower landscape — and how it could soon change.
The new DOJ pilot program is yet another tool in the U.S. government’s toolkit to help weed out white-collar crime: the SEC, CFTC and IRS all have longstanding whistleblower programs, and FinCEN more recently was mandated to establish a whistleblower program under the AML Act of 2020. The DOJ has other existing programs, such as the False Claims Act/Qui Tam program, that account for whistleblowers for certain laws, and on a parallel path, recently announced a separate pilot program providing certain executives non-prosecution agreements for voluntarily self-reporting criminal conduct.
Each program focuses on different laws, regulations and/or industries. The SEC focuses on securities law violations, the CFTC on violations of the Commodities Exchange Act, the IRS on noncompliance with tax law or other areas the IRS investigates and FinCEN on money laundering and sanctions evasion.
Established whistleblower programs like the ones…
