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Welcome as this is, I think the US is way ahead of most countries because it guarantees whistleblowers a share of the resulting fines etc.
by LatteLazy 4y ago
Welcome as this is, I think the US is way ahead of most countries because it guarantees whistleblowers a share of the resulting fines etc.
- yieldcrv 4y agoI only know of this in securities violations and maybe one aspect of the medical field? Can you elaborate most? Most employees and stakeholders are just lucky if they aren't ostracized from their field forever.
- Nasrudith 4y agoAll I can contribute is that there is also a tax evasion/tax fraud bounty with the IRS.
- KirillPanov 4y agoSecurities fraud and tax fraud. I think it only applies to those two limited areas.
- hutzlibu 4y agoThis is news to me, are there famous examples? Otherwise I am not sure, if money is the solution to everything, as it could create incentive to create problems or make them worse, only to eventually receive a bigger part of the fines.
- djcannabiz 4y agoI know there is a program in the SEC that gives whistleblowers a cut of the fines https://www.sec.gov/news/press-release/2022-151 https://www.sec.gov/news/press-release/2022-151 one example: https://www.sec.gov/news/press-release/2022-211 https://www.sec.gov/news/press-release/2022-211
- barbazoo 4y agoGood point!!!
- AlbertCory 4y agoI'm afraid I can't cite them to you, but as I recall, some whistleblowers have received gigantic sums of money, and some have been denied. You really can't count on a windfall, and if it comes, it might be years later. Whether the denials were justified or not -- can't say.
- imajoredinecon 4y agoGoogling "largest whistleblower reward" turns up a $114 million reward and a $200 million reward. > create problems or make them worse Personally, I'd hope that the sophistication of the regulators involved, and the liable parties' lawyers---if you're doing something bad enough to be liable for billions of dollars in fines, you can afford good lawyers---would be a good guard against whistleblowers' trying to game the system.
- dedev5 4y agoThere are some articles from march 2022 saying that payouts had reached 1.1$ Billion.
- Brybry 4y agoThere is the False Claims Act[1] and it has been used to fight corruption in the hospice care industry but it does not seem to have really stopped it[2]. [1] https://en.wikipedia.org/wiki/False_Claims_Act https://en.wikipedia.org/wiki/False_Claims_Act [2] https://www.newyorker.com/magazine/2022/12/05/how-hospice-became-a-for-profit-hustle https://www.newyorker.com/magazine/2022/12/05/how-hospice-be...
- solarkraft 4y agoDamn, somebody should tell Snowden.
- berry_sortoro 4y ago[dead]
- graderjs 4y agoWell if the Dep State RFJ program wasn't a scam, that is...