The U.S. Justice Department announces plans to enhance its whistleblower program, aiming to incentivize individuals to expose corporate wrongdoing by offering financial incentives. Deputy Attorney General Lisa Monaco outlined the initiative during the American Bar Association’s conference on white-collar crime.
Monetary rewards will be granted to individuals who provide crucial information leading to the discovery of significant corporate or financial misconduct, especially regarding criminal abuse within the U.S. financial system and corruption cases involving illegal payments to government officials.
Existing whistleblower programs by other agencies, such as the Securities and Exchange Commission and the Commodity Futures Trading Commission, will be complemented by the expanded Justice Department initiative, which seeks to address jurisdictional gaps.
Under President Joe Biden‘s leadership, the Justice Department is intensifying efforts to prosecute executives involved in misconduct and impose penalties on repeat corporate offenders. The department emphasizes a comprehensive approach, combining incentives for cooperation with stringent enforcement measures.
In addition to monetary rewards, the Justice Department is exploring alternative strategies such as non-prosecution agreements for wrongdoers who self-disclose and cooperate with authorities, with pilot programs underway in key jurisdictions.
Deputy Attorney General Lisa Monaco reaffirms the department’s commitment to combatting evolving threats, including those posed by emerging technologies like artificial intelligence, emphasizing unwavering enforcement of the law.
