A Whistleblower Will Receive $28 Million for Providing Information for a $281 Million FCPA Settlement
Whistleblower reports to the Securities Exchange Commission (“SEC”) have surged year over year, and corporate Foreign Corrupt Practices Act (“FCPA”) resolutions have continued to include large financial penalties.
The SEC’s recent award of more than $28 million to a whistleblower who provided information that led to settled FCPA enforcement actions, including a financial settlement of more than $281 million, was the 10th largest in whistleblower program history. The Biden administration has emphasized that the fight against corruption is a core national security interest, and FCPA enforcement is expected to be a continued focus by the SEC and the Department of Justice (“DOJ”).
Given the heightened FCPA risk environment companies should address whether their internal compliance programs are structured to identify and promptly address any internal tips or reports of alleged FCPA violations.
