The Securities and Exchange Commission (SEC) Whistleblower Office is a program that protects and grants anonymity and rewards to those who come forward to expose financial and security frauds. As the responsibility held by unscrupulous corporations in the 2008 market crisis became more widely known, the public and government officials called for increased regulations and policing of Wall Street. In response, the Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. This Act introduced comprehensive regulatory changes and consumer protection tools aimed at uncovering fraudulent schemes before they cause substantial economic damage.
The complexity and secrecy of Wall Street’s operations, coupled with powerful lobbying interests, makes effective government oversight and regulation difficult. As a result, insiders who blow the whistle have become an integral part of the legal enforcing required to maintain a fair market. Thanks to the information provided by many brave relators, the SEC has successfully collected billions of dollars from companies who have violated securities laws.