The U.S. Securities and Exchange Commission announced that it awarded $17 million award under its whistleblower program to a former company employee whose detailed tip “substantially advanced the agency’s investigation and ultimate enforcement action.”
The award was the second largest since the program’s inception in 2011, following a $30 million award issued in September 2014. Awards are issued when violations of the U.S. Foreign Corrupt Practices Act (FCPA) are reported, and our website acontains information about whistleblower awards in FCPA cases here. The SEC’s whistleblower program has now awarded more than $85 million to 32 whistleblowers over the program’s six years, and more than $26 million to five whistleblowers in just the past month alone.
While the award was not to an employee in Thailand, we have noticed a marked uptick in internal complaints about possible FCPA violations by employees in Thailand. For more information about anti-corruption generally, please see the knowledge section of our website here.