Statement of Erika Kelton, an international whistleblower attorney and partner with Phillip & Cohen:
“Today’s expected announcement that the Department of Justice (DOJ) will further incentivize whistleblowers to come forward to report fraud is an important development in the war against corporate crime and shows the DOJ recognizes the power of incentivizing those with inside knowledge to step forward.
Like the SEC and CFTC, it is essential that any new DOJ incentive program provide a mandatory minimum award of no less than 10 percent given the professional and personal risks that whistleblowers take to report corporate wrongdoing. Whistleblowers are an essential component in the DOJ’s enforcement efforts and with the proper incentives, whistleblowers can turbocharge DOJ’s investigations and prosecutions.”
*Both the SEC and CFTC provide whistleblower awards of between 10 and 30 percent of monetary sanctions.