This year, the US Commodity Futures Trading Commission (CFTC) awarded whistleblowers $16 million in bonuses, including a $15 million bonus to two whistleblowers. These two whistleblowers not only provided important information to regulatory authorities but also provided a lot of assistance, helping the CFTC successfully file lawsuits in law enforcement cases.
It is reported that CFTC has cumulatively rewarded whistleblowers with nearly $350 million.
Christy Goldsmith Romero, a member of the CFTC, believes that "whistleblowers play a crucial role in regulatory investigations into fraud and other violations. Without them, the CFTC cannot fully protect consumers and the market. whistleblowers help us identify fraud and other violations, explain key evidence, and save CFTC a lot of resources and time. The faster we stop fraud, the better we can protect consumers from fraud
Christy Goldsmith Romero also stated that the Whistleblower Program established by the CFTC is also designed to motivate whistleblowers to step forward. The plan not only provides financial incentives for whistleblowers, but also provides confidentiality measures to protect their safety. The whistleblower not only provides assistance to CFTC's law enforcement work, but also puts themselves at great professional and reputational risk.
The CFTC committee member also believes that monetary incentives have a good effect on encouraging reporting. This year, CFTC received 1530 reporting leads, the highest in history. Many of these clues are related to the cryptocurrency field where fraud is prevalent today.
