Whistleblower Law

In cases of fraud within the financial services industry, whistleblower immunity is provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act

The SEC Whistleblower Law Explained

In cases of fraud within the financial services industry, whistleblower immunity is provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act, aka the Securities Exchange Commission (SEC) Whistleblower Law. Former President Barack Obama signed this  federal regulation into law in 2010. The SEC Whistleblower Act also allows the SEC a “whistleblower bounty program.” This allows people who provide information that leads to successful SEC enforcement to receive up to thirty percent of the fiscal sanctions that total over 1M.

What are Alleged Whistleblower laws?

In 1863, Congress passed the False Claims Act, aka The Lincoln Law to hold guilty parties responsible when they commit fraud against the United States  government and its programs. The FCA comprises “qui tam,” which is short for a Latin expression that translates as “he who brings a case on behalf of our lord the King, as well as for himself.” The qui tam provision permits unaffiliated citizens to take legal action on the government’s behalf. Today, this is called “whistleblowing,” as the person is calling out fraud, or “blowing the whistle” on crime. The “qui tam” provision of the False Claims Act allows citizens not only to sue on behalf of the government but also collect a portion of compensation.

Independent of the False Claims Act, new laws are now in place to ensure whistleblower immunity for people who report IRS fraud referred to as the IRS Whistleblower Law. These laws have had a positive influence on society by bringing widespread corruption to light in the Government and Healthcare industry.  

Examples of Whistleblower Cases

  • A contractor who alters screening results or other data concerning the grade or price of products it sells to the government.
  • A medical professional who bills Medicare for bogus services that were either unnecessary or not rendered.
  • Tax fraud exceeding $2M, or any type of fraud perpetrated by an someone who earns over $200,000 in one year.
  • Falsifying the actual wholesale price of prescription drugs.
  • Billing twice for the same service

If you’d like to report government fraud, the Atlanta whistleblower lawyers at The Law Offices of Robert A. Rivers are waiting to hear from you.

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