New York’s Attorney General proposed a bill Thursday that would protect and reward big bounties to whistleblowers who report fraud and other misconduct in the banking, insurance, and financial service industries. Attorney General Eric Schneiderman said New York “has a unique opportunity to set the gold standard for states seeking to expose and hold individuals accountable for financial crimes.” Currently the state has no program or laws to protect or incentivize whistleblowers in the financial sector. The proposed Financial Frauds Whistleblower Act would open the door to big whistleblower rewards with the intent of encouraging those who witness securities fraud ... Read More
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