Banks Face Ongoing FCA Threat Despite Likely Dip in Fines

According to the Justice Department, whistleblowers filed more than 700 qui tam actions in fiscal 2014, the second year in a row to top that number.

“Workers in the financial sector are starting to understand the potential rewards for reporting bad behavior at their firms,” said Jordan Thomas, the leader of [prior firm][‘s] whistleblower representation practice.

[Jordan Thomas][prior firm][‘s] has done surveys finding that financial services workers are becoming increasingly aware of the U.S. Securities and Exchange Commission’s whistleblower program, which Jordan helped develop.

“He [outgoing Attorney General Eric Holder] wouldn’t be suggesting that if he didn’t see the success of corporate whistleblowing in other areas,” he said.