Department of Justice Launches Whistleblower Rewards Program to Combat Corporate Crime, Including Crypto

On August 3rd, according to News.bitcoin, the Department of Justice (DOJ) has launched a corporate whistleblower rewards pilot program to encourage reporting of corporate criminal activity. The three-year program (effective August 1st) targets Financial Institution Groups, including cryptocurrency businesses, to enhance the detection and prosecution of corporate crimes. Whistleblowers who provide non-public information resulting in forfeiture of more than $1 million are eligible for rewards.
Eligible offenses include money laundering, foreign corruption, domestic bribery, and health care fraud. The program, administered by the Criminal Division's Money Laundering and Asset Recovery Section, emphasizes the importance of a robust corporate compliance program. To be rewarded, a whistleblower must submit truthful, voluntary, and complete information and fully cooperate with the Department of Justice's investigation. If a company voluntarily self-reports within 120 days of receiving an internal whistleblower report and acts prior to being contacted by the Department of Justice, a presumption of denial can be obtained under the Corporate Enforcement and Voluntary Disclosure Policy.