DOJ Launches Lucrative Insider Reward Program for Reporting Crypto Crimes

IconCryptoNewsTerminal Staff02 Aug, 2024

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DOJ Launches Lucrative Insider Reward Program for Reporting Crypto Crimes

The United States Department of Justice (DOJ) has initiated a pilot insider reward program to incentivize the self-reporting of corporate crimes, including those involving cryptocurrencies. This three-year program is available to financial institutions, including crypto companies, and offers rewards to whistleblowers who provide information leading to the recovery of over $1 million in illegally obtained funds. The rewards can amount to up to 30% of the recovered funds, capped at $100 million. The program primarily targets money laundering, foreign bribery, domestic bribery, and healthcare fraud.

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