Whistleblowers not only help the government agency. They are helping their fellow citizens when they reveal wrongdoings being performed by dishonest persons who should know better.
Under the law, money accepted for a particular investment has to go into that investment. What if a broker were to take money from a client and use it for different purposes? What if money intended to be directed towards real estate investments was directed towards precious metals? The simple answer here is fraud has been committed. Sadly, people who are the victims of these types of frauds do not find out until it is too late. And they often end up losing a lot of money in the process.
Someone on the inside may know about the wrongdoing that is occurring. If anyone in the know speaks out, a lot of terrible things won’t be imposed upon those innocent persons who do not realize they are being cheated.
In the aftermath of the disastrous 2008 global financial meltdown, legislation was passed by the Congress. Dubbed the Dodd-Frank bill after its authors, the bill tightened up many rules related to the financial industry. The huge bill also contained additional protections for whistleblowers. Those who are seriously worried about recriminations after going public on things they report on can look towards this law as a protector.
The law could also be looked at as a means of becoming financially independent. Huge financial rewards are possible based on the legislation. Percentages of fines paid to the government would be “commissioned” to those who speak out.
Handling the duties of blowing the whistle may not be easy. The process may be both new and frightening. Through the help of a SEC whistleblower attorney, things could be easier to handle and become more productive.