Source: Christian Science Monitor
by staff
“For American executives who spot fraud and financial misconduct among workers and then quickly report it, the U.S. Justice Department has a refreshing message: Your alertness to right-doing can bring a reward – in mercy. Federal prosecutors were recently handed expanded powers to be lenient toward companies that voluntarily report wrongdoing by individual employees in a ‘timely’ manner, make amends to those wronged, and shape up internal rules – hotlines, audits, etc. – to expose white-collar crime. The accused individuals are then prosecuted, not the company, preventing a hefty fine or forfeiture. Shareholders and employees also benefit from the avoidance of some kinds of negative fallout, such as bankruptcy. Yet the biggest result so far, according to Jay Clayton, the U.S. attorney for the Southern District of New York – which includes Wall Street – has been faster and greater detection of fraud.” (05/15/26)