25 June, 2020

USA Fighting fraud: record amount for a whistleblower

The Security Exchange Commission (SEC) is paying $50 million to a whistleblower.

The whistleblower, whose identity is not disclosed, contributed to the SEC's investigation into a large US bank for more than a decade.

The bank was accused of giving pension funds unfavourable exchange rates to make huge profits: in 2015, the bank paid over $700 million in fines for the case.

The ESA stated that the last payment would be the total sum of the 83 warning launchers over $500 million since the program was established more than ten years ago.

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Editor(s): Mr Darier

Source(s): FR24news

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