Fraud By The Numbers

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Life Comes at You Fast: The Role of Whistleblowers in An Era of Constant Change

We hope you have enjoyed this year’s installment of Fraud by the Numbers! In just the past three weeks, we have seen three major developments impacting whistleblowers.

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The Lure of U.S. Whistleblower Rewards Pushes HMRC to Launch its own Strengthened Reward Program

Do not pass Go. Do not collect £200. Proceed directly to Washington. Until recently, that, in Monopoly terms, is what the UK's would-be fraud whistleblowers have been doing.

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State FCA Recoveries

Despite the success of the Federal law and the state False Claims Acts, twenty-one states do not have an equivalent law.

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Insider Trading Comes to the Prediction Markets

On February 25, 2026, the CFTC’s Division of Enforcement issued a “Prediction Markets Advisory” with a blunt message

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The $2.29 Billion Safety Net: What the FY2025 DOJ Statistics Say About Declined Cases

On September 1, 2026, the Eleventh Circuit vacated and remanded the district court ruling in United States ex rel. Zafirov v. Florida Medical Associates.

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The Squeeze on Relator Shares in a Record Recovery Year

2025 was a record year for FCA recoveries. For relator awards, not so much.

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Paycheck Protection Program (PPP) Fraud Continues to Add Up

The Paycheck Protection Program (PPP) was designed to deliver emergency financial relief to businesses during the COVID-19 pandemic.

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DOJ’s Criminal Corporate Whistleblower Program: A New Tool in the Fight Against Fraud

In August 2024, the Department of Justice’s Criminal Division launched the Corporate Whistleblower Awards Pilot Program.

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The $3 Trillion Blind Spot

Private loans rarely trade, so many assets cannot be valued against a daily market price; regulators have also identified valuation opacity and significant data gaps

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The Wide World of Customs Fraud

The Department of Justice recently trumpeted the success of the Trade Fraud Task Force, which racked up $1 billion in recoveries, penalties, forfeitures, and charged losses.