The U.S. Department of Justice launches a whistleblower reward program to combat corporate criminal activities, including those related to cryptocurrency

ChainCatcher news, according to News.bitcoin, the U.S. Department of Justice (DOJ) has launched a pilot program for corporate whistleblower rewards to encourage reporting of corporate criminal activities. This three-year program (effective August 1) targets financial institutions, including cryptocurrency companies, to enhance the investigation and prosecution of corporate crimes. Whistleblowers providing non-public information that leads to forfeiture amounts exceeding $1 million are eligible for rewards.

Eligible violations include money laundering, foreign corruption, domestic bribery, and healthcare fraud. The program is managed by the Criminal Division's Money Laundering and Asset Recovery Section, emphasizing the importance of robust corporate compliance programs. To qualify for a reward, whistleblowers must submit truthful, voluntary, and complete information and fully cooperate with the DOJ's investigation. If a company voluntarily self-reports within 120 days of receiving an internal whistleblower report and takes action before the DOJ contacts them, it may be entitled to a presumption against prosecution under the Corporate Enforcement and Voluntary Disclosure Policy.