Whistleblowers to get Sh5m as CMA steps up fraud war

Capital Markets Authority (CMA) CEO Wyckliffe Shamiah on April 29, 2021. PHOTO | LUCY WANJIRU | NMG

Whistleblowers will earn up to Sh5 million for leaking capital market fraud after the regulator gazetted new rules in an effort to stop economic crimes.

The Capital Markets (Whistleblower) Regulations 2022 outlines how the rewards will be implemented including compensation of 3 percent of the amount recovered, persons eligible for the reward, forms of reporting, information required and the protection for the informants, among others.

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