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Types of Whistleblower Cases

Banking Industry Fraud Cases

Blowing the Whistle on fraud in the Banking Industry

A little-known, but very powerful, law exists that offers rewards to whistleblowers who expose fraud in the banking industry. The law, known as the Financial Institutions Anti-Fraud Enforcement Act, covers both fraud on banks and fraud by banks. It also covers a wide range of other specific types of conduct affecting the banking industry, such as embezzlement of bank funds, the receipt of “kickbacks” by bank loan officers, or fraud in connection with loan transactions. The statute provides whistleblower rewards of up to 30% of the amounts recovered by the government in banking fraud cases.

The statute has a very unique set of procedures that must be followed by a whistleblower who wishes to preserve his or her right to receive a reward. The qui tam whistleblower must file a “declaration” – a form of sworn statement – with the U.S. Department of Justice (DOJ), headquartered in Washington, D.C. The qui tam whistleblower must then keep the declaration confidential for a specified period of time, to allow the DOJ to conduct an investigation of the whistleblower’s allegations. And under some circumstances, the DOJ will directly appoint the whistleblower’s own attorney to pursue the case on behalf of the government.

Contact A Whistleblower Attorney

Banking industry fraud cases are subject to specific legal requirements and procedures that must be followed to preserve a whistleblower’s right to a reward. The law firm of Tycko & Zavareei LLP works on the cutting edge of the whistleblower revolution, and understands the complex issues that banking industry whistleblowers face. Our qui tam attorneys are available for free, no-commitment initial consultations. To start that process, complete our Case Evaluation Form, or call us at (202) 973-0900.