Republican President Donald Trump announced Tuesday the federal government will pay whistleblowers who help identify fraud 1 percent of the total amount uncovered.
The president said the $25 million program encourages the public to report suspected fraud.
The White House said under the Fraud Whistleblower Incentive Program, anyone who submits a tip to fraud.gov that leads to prosecution or a conviction is eligible to receive up to $30,000. The Justice Department will administer the program.
Trump also said he will personally decide who gets to collect reward money when more than one person claims to have provided the tip.
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Trump announced the program from the Oval Office, including several attacks against Minnesota.
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This type of fraud targets the supply chain and accounts payable departments of businesses.
- Invoice Manipulation: Criminals intercept a legitimate invoice between a supplier and a client and change the banking details to their own. The client pays the bill thinking they are paying their trusted vendor.
- Kickbacks and Bribery: A vendor secretly pays an employee of the purchasing company to ensure their bid is successful or to overlook inflated pricing.