The False Claims Act in 2024: A Government Enforcement Update

This past year, the False Claims Act (FCA) continued to be a key tool for the Justice Department and whistleblowers to bring suits against companies, including those in the financial services sector. The Justice Department secured 558 FCA settlements and judgments and collected $2.9 billion in fiscal year 2024. Whistleblowers were responsible for 979 qui tam suits — a record number — and collected over $400 million for filing actions to expose fraud and false claims. With a constant focus on FCA enforcement, the risk to corporations of huge financial penalties under the FCA remains. Companies in the financial services sector must continue to take the necessary steps to prevent FCA violations and be particularly mindful of potential whistleblowers who stand to have significant paydays in the event of a successful FCA claim. To keep you apprised of the current enforcement trends and the status of the law, Bradley’s Government Enforcement & Investigations Practice Group is pleased to present the False Claims Act: 2024 Year in Review, our 13^th annual review of significant FCA cases, developments, and trends.