The Department of Justice announced a Corporate Whistleblower Awards Pilot Program on August 1, 2024. If a whistleblower voluntarily reports original, truthful, and complete information to DOJ in a relevant subject area—including financial institution, healthcare, and bribery and corruption offenses—she is eligible for a potentially substantial monetary reward based on the amount of assets forfeited. Though whistleblowers may report directly to DOJ without prior notice to their employers, those who initially file internal reports with their companies may qualify for higher rewards. 

If a whistleblower initially files an internal report with her company, the company then has 120 days to voluntarily self-report to DOJ to be eligible for leniency under DOJ’s Voluntary Self-Disclosure Policy. Depending on the type and scope of the whistleblower’s internal report and the size of the company at issue, the 120-day deadline puts companies on a short timeline to investigate internal reports and determine if they should voluntarily self-disclose to DOJ. Companies must take swift action upon receiving an internal report by deciding whether the follow-up investigation should be done internally or by outside counsel, collecting and reviewing relevant documents, interviewing relevant parties, and determining if remediation or a change in compliance procedures is necessary. 

Given what oftentimes will be a demanding self-disclosure deadline, companies should evaluate their internal reporting procedures and compliance tools now—before receiving a whistleblower’s internal report—to ensure that reports are handled expediently. 

Additionally, the more established a company’s whistleblower program is, and the more confidence that employees have in that program, the more likely an employee will file an internal report first rather than immediately reporting to DOJ.