$104M Whistleblower Award — A Sign Of Things To Come
December 6, 2012, 10:19 AM EST
Law360, New York (December 6, 2012, 10:19 AM EST) -- A recent $104 million whistleblower award indicates that government enforcement agencies are taking advantage of the substantial bounty provisions found in recent legislation in an effort to better discover and punish corporate fraud. The award to a banker-turned whistleblower who helped the United States government uncover conduct in which the Swiss bank UBS helped its American clients avoid taxes is also likely to motivate future whistleblowers.
This means that public companies need to reassess the adequacy of current compliance and reporting systems, create a working environment...