Dodd Frank Whistleblower
When companies are doing something illegal it can go undetected for a long period of time. Sometimes the only way authorities find out about these activities is from someone in the company. A person that alerts the authorities is known as a whistleblower. Dodd Frank told the wrongdoings on a Wall Street company. There are now whistleblowers programs based off of Dodd Frank Whistle blowing.
Whistle Blower Program
In light of the Dodd Frank Whistle blowing a reform was adapted to protect people who told on their companies. This is known as the Dodd Frank Wall Street Reform and covered under the Consumer Protection Act. If a whistle blower volunteers information about the wrongdoing of a company and the information is found to be reliable and valid they will not be punished. If the company is convicted the whistle blower may receive a reward for this information up to one million dollars. The money the person will be rewards is ten to thirty percent of the total amount that the company has to pay as part of their criminal conviction. The information that the whistler blower provided must be original and true. Employers are banned from any form of retaliation to the employee that has come forward. They will face additional fines if the person is discharged or removed from the company.
This act was set in place to encourage more employees to come forward about illegal activity that they see at their place of employment. They will not be punished but rather rewarded for providing this information.
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