U.S. Justice Dept. launches whistleblower program to combat corporate wrongdoing

The U.S. Justice Department has launched its first-ever whistleblower program to combat corporate misconduct. The program aims to incentivize individuals with knowledge of corporate wrongdoing to report it to the government. Whistleblowers who report original information about certain corporate offenses may be eligible to receive a portion of the penalty if a prosecution results in a forfeiture of assets. The program will run for three years and offers rewards of up to 30% of the first $100m in assets forfeited. The Justice Department hopes that the program will encourage companies to voluntarily disclose misconduct, as individuals may beat them to the punch. The program covers conduct not already addressed by existing whistleblower programs and focuses on foreign corruption schemes, health care fraud, and financial crimes.