What is the Corporate Fraud Accountability Act?

The Corporate Fraud Accountability Act is a law in Maryland that was created in 2002 to help strengthen laws protecting whistleblowers who report corporate fraud. The Act increases protection for whistleblowers and encourages them to report any suspected fraud. It also created increased penalties for those who commit corporate fraud. Under the Act, employers who violate whistleblowing laws may be fined up to $1 million per violation. The Act also allows victims of corporate fraud to seek damages, including punitive damages, up to three times the amount of their losses. The Act also prohibits employers from retaliating against whistleblowers by taking adverse action against them, such as demotion, suspension, or termination from employment. The Corporate Fraud Accountability Act was created to protect whistleblowers and to ensure that those guilty of corporate fraud are held accountable for their actions. By encouraging whistleblowers to report corporate fraud, the Act helps to ensure that companies do not continue to get away with illegal activities. In addition, the Act also helps to ensure that victims of corporate fraud are able to receive the compensation that they deserve.

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What is the Corporate Fraud Accountability Act?

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