Blowout Bonuses: Argentina’s Whistleblower Law Offers Lucrative Rewards
In an effort to combat corruption and promote transparency, the Argentine government has introduced a complex system of rewards for whistleblowers who come forward with information about illegal activities.
Financial Awards
Under Article 13 of the Complex Crimes Law, whistleblowers can receive economic awards for their role in uncovering wrongdoing. Additionally, those who collaborate in asset recovery procedures can be compensated up to 10% of the recovered assets under the Property Decree (Article 18).
Protection Measures
The National Witness Protection Program offers a range of protection measures, including:
- Financial assistance for:
- Accommodation
- Transportation
- Food
- Communication
- Healthcare
- Relocation
- Other essential expenses
- This support is available both domestically and internationally, as long as the whistleblower remains in a position where they are unable to access these resources themselves.
Reduced Penalties or Exemptions
Whistleblowers who have committed anti-competitive behavior may be eligible for reduced penalties or exemptions under the Antitrust Law.
Reform of Whistleblower Program
The news comes as Argentina’s Senate Chamber approved a bill aimed at reforming the country’s whistleblower program and cease of conduct agreements. The legislation is still pending debate in the Chamber of Deputies, with no set date for discussion.
Expert Insights
Experts say that the new measures are a significant step forward in promoting transparency and combating corruption in Argentina. “The government’s willingness to offer financial rewards and protection to whistleblowers sends a strong message that it values their contributions,” said Guillermo Jorge, an internationally recognized expert in anti-corruption compliance and money laundering prevention.
Encouraging Whistleblowing
With these incentives in place, it remains to be seen whether the program will encourage more individuals to come forward with information about illegal activities. One thing is certain, however: Argentina’s whistleblowers are now in a stronger position than ever before to make a real difference in the fight against corruption.