Under the law, whistleblowers are directed to report fraud cases directly to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For original information that results in more than $1 million in sanctions, the whistleblower can receive from 10 to 30 percent of the amount obtained by the SEC or CFTC. The award amount depends on how vital the information was in pursuing the case and the degree of assistance provided by the whistleblower. Awards will not be given to a whistleblower who was convicted of a crime related to the fraud he or she reported.
Australia has enacted a new amendment that will broaden the definition of personal information and require more transparency from organizations on how that personal information is stored. The new law, The Privacy Regulation 2013, is part of the broader Privacy Amendment Act of 2012 and applies to companies with revenues of more than AUD 3 million that collect information, such as names, contact details, payment information, or other details related to a specific person, for any purpose.