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US authorities push Bradley Birkenfield away from the base

US authorities push Bradley Birkenfield away from the base

The IRS paid the new record amount of $200 million for the whistleblower. This approach leaves some question marks.

The US CFTC, the regulator of the US futures and options markets, has paid the whistleblower a $200 million reward. It’s about the LIBOR scandal, which the whistleblower helped explain, as the CFTC did in Media information Announced Thursday evening (local time).

Financial firms have been sentenced to billions in fines for the open manipulation of a former bank employee.

Wrong incentives?

The Americans said the whistleblower provided critical information to the ongoing Libor investigation. The “financial times” (Item to be paid for) Reports, citing people familiar with the matter, that the reward is a $2.5 billion fine on Deutsche Bank.

She added that the bounty was the largest ever paid to the whistleblower under the Dodd-Frank Act. The CFTC has paid more than $300 million to whistleblowers since 2014.

royal reward

With recent installments, he became a US bank manager Bradley Birkenfield, who had begun exposing American tax evaders in banks, has practically removed them from their base. He received $104 million in 2012 as a reward for facilitating tax collection thanks to his information.

In general, awarding rewards for providing evidence of criminal offenses is not without controversy. Money payments are used to set false incentives and often false accusations are made, as is often said. However, in the EU, with the launch of the EU Whistleblower Directive, new rules will soon be in place from mid-December, under which some companies will have to install, for example, an anonymous whistleblower system.

No installments in Switzerland

In Switzerland, there are no bonuses for whistleblowers anyway; But the country generally finds it difficult to create ombudsmen or support whistleblowers. Instead, Parliament is going in the opposite direction and reducing whistleblower protections.

Will Credit Suisse (CS) present a convincing reorganization at the beginning of November 2021?

  • Yes, anyway, CS President Antonio Horta Osorio will save CS.

  • Yes, because you can’t go wrong with CS.

  • It depends on the status granted to CS in Switzerland.

  • No, if Thomas Gotstein remains CEO, nothing will change.

  • No, Antonio Horta Osorio has very little idea of ​​computer science.