BOHEMIA, N.Y., Jan. 19, 2015 /PRNewswire-iReach/ -- Whistleblowers Against Fraud (WAF) is an organization that assists citizens in reporting fraud and helps them collect compensation for revealing fraud. Due to the importance of whistleblowers in uncovering illegal activity, the U.S. government has enacted new policies to support whistleblowers and encourage individuals to report fraud. National Whistleblower Appreciation Day is one of these efforts.

In 2013, the U.S. Senate declared July 30 as a day to uphold the values of whistleblowers. National Whistleblower Appreciation Day encourages Americans to reflect on the importance of reporting illegal activities that cost taxpayers billions. Without whistleblowers, unscrupulous people would continue to waste funds, abuse authority, violate laws and engage in fraud at the expense of U.S. citizens.

Fraud exists in both the public and private sectors. In fact, fraud related to the Securities and Exchange Commission (SEC) costs taxpayers an estimated $1 billion to $3 billion per year, and SEC whistleblower programs are vital for recovering a portion of this money. Healthcare fraud, the most costly type of fraud, costs taxpayers an astonishing $60 billion per year.

In 2013, 753 people filed whistleblower cases, which set a new record. By the close of the 2014 fiscal year, the Department of Justice will have collected more than $5 billion from False Claims Act cases.

There are many reasons why individuals choose to report fraud, but one factor that often prevents people from coming forward is a fear of losing their jobs. The workplace can be a hostile environment, especially for those who blow the whistle against employers. These workers may suffer extreme retaliation, be labeled as troublemakers, or even fired.

As a result, many people withhold information related to fraud because they fear for their financial security. However, the Whistleblower Protection Enhancement Act (WPEA) of 2012 protects the rights of these individuals. For those who identify fraud but are not sure how to proceed, companies like Whistleblowers Against Fraud can help.

Whistleblowers Against Fraud (WAF), founded by Joseph Piacentile, is dedicated to supporting individuals who have information about major fraud perpetrated against the U.S. government or its citizens. WAF partners with clients to develop the strongest case possible, recommend the right attorney for their case, and guide them through each phase of their case. With more than 21 years of experience developing whistleblower actions, WAF has successfully recovered billions of dollars on behalf of the U.S. federal government and numerous states. Partnering with WAF can help maximize any whistleblower reward one ultimately receives.