Today, the U.S. Securities and Exchange Commission (SEC) issued two separate whistleblower awards totaling almost $3 million. The SEC whistleblowers, who both remain completely anonymous and confidential, faced personal and professional risks when reporting key information to the SEC Whistleblower Office.

In the first award order, the whistleblower submitted documents outlining the fraud and helped the Commission secure millions of dollars that will be returned to harmed clients. In fact, the whistleblower’s information was of such high quality that the claimant never had to speak directly with SEC staff. This whistleblower was awarded over $2.2 million for their efforts.

In the second award order, the whistleblower alerted the Commission staff to a fraudulent reporting scheme, provided ongoing assistance in the form of documents and identifying witnesses, and ultimately saved the SEC time and resources. This whistleblower was awarded almost $700,000 for their efforts.

The SEC Whistleblower Program was created as part of the Dodd Frank Act of 2010, a massive piece of financial reform legislation designed to address the economic recession of 2008.

Under the Dodd Frank Act, SEC whistleblowers who provide the Commission with original information of fraud can become eligible for whistleblower awards if the sanctions collected from enforcement actions related to their case exceed $1 million

Dodd Frank whistleblowers who bring original information of securities and commodities fraud can remain anonymous and confidential in their proceedings.

“Both whistleblowers who received awards today raised their concerns internally and then timely reported those concerns to the Commission,” said Jane Norberg, Chief of the SEC’s Office of the Whistleblower. “The return of millions of dollars to harmed clients in one matter, and the uncovering of a fraudulent scheme in the other matter, underscore the tremendous value that whistleblowers provide.”

If you have information of fraud, contact an experienced whistleblower attorney to find out if you are eligible for an award.

Ben Kostyack also contributed to this article.