Whistleblowers Against Fraud (WAF), a group founded by Joseph Piacentile, helps individuals report fraud and collect compensation for the information they provide. WAF explains how the Dodd-Frank Act and the Securities and Exchange Commission (SEC) are influencing whistleblower laws around the world.
The U.S. Securities and Exchange Commission paid a foreign SEC whistleblower $30 million in September 2014. The SEC Office of the Whistleblower (OWB), in partnership with the Dodd-Frank Act, has rewarded hundreds of individuals for providing information that uncovers corporate fraud. The same applies to the False Claims Act, which pays to investigate crimes against the U.S. government and taxpayers.
Additionally, the international community is incorporating provisions to protect whistleblowers from retaliation. In the United States, for example, it is illegal for employers to fire workers for reporting fraud. Many whistleblowers file their claims after being fired, which means this policy is a strong motivator behind revealing fraud. The SEC and its subsidiaries are also enforcing sanctions that are changing the way Americans view whistleblowers. Most notably, the protection and rewards provisions are motivating hundreds of people to report illegal misconduct, proving how well the system is working in the United States.
Now, the rest of the world is taking notice. These programs are recovering billions of dollars, and international governments are realizing the benefits of protecting whistleblowers and compensating them for their bravery. In the United States, rewards are as high as 30 percent of recovered funds, ensuring whistleblowers have plenty of incentive to come forward.
Unfortunately, in most countries, people are too scared to report wrongdoing. There is no protection for them, and many lose their jobs, suffer from occupational hostility, or have trouble finding new employment. Even when whistleblowers do come forward, a lack of suitable policies prevents those who commit fraud from undergoing prosecution or paying penalties. The SEC is trying to change this by offering guidance to other countries that are attempting to deter fraudulent behavior.
Whistleblowers Against Fraud is dedicated to supporting individuals who have information about major fraud perpetrated against the U.S. government or its citizens. WAF partners with clients to develop the strongest case possible, recommend the right attorney for their case, and guide them through each phase of their case. With more than 21 years of experience developing whistleblower actions, WAF has successfully recovered billions of dollars on behalf of the U.S. federal government and numerous states. Partnering with WAF can help maximize any whistleblower reward one ultimately receives.
Source: PR Newswire
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.