Forget winning the lottery—call the U.S. Securities and Exchange Commission instead. On Monday the agency announced that it was handing out its biggest whistleblower award ever—at least $30 million—to an employee who reported fraud at a company. Although the SEC has to keep the names of the employee and the company under wraps to protect the whistleblower’s identity, it did say that the whistleblower is located overseas. And this is the fourth time an award has been given to a person living abroad since the whistleblower bounty program began in 2011 under the Dodd-Frank Act.
The fact that this massive award—far exceeding the SEC’s previous topper of $14 million—was given to someone working abroad should put multinational companies on alert. The SEC may be an American agency, but it appears that its Office of the Whistleblower won’t hesitate to look further afield for the next big payout.
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