The Securities and Exchange Commission announced a whistleblower award of $3.6 million issued to an individual whose reporting directly led to charges against fraudsters engaged in securities fraud.

According to the SEC order, the anonymous SEC whistleblower’s initial tip brought new information to Enforcement staff, leading the Commission to open an investigation.

The award order also noted that a second whistleblower was involved in this case, but their reporting did not prove to be valuable enough to warrant an award.

Since it was established under the Dodd Frank Act, the SEC Whistleblower Program has now awarded over $842 million to 157 eligible individuals.

SEC whistleblowers who bring forth original information of securities frauds can file claims using a Form TCR (Tip, Referral, Complaint). If the SEC sanctions any culpable parties and the penalties exceed $1 million, the whistleblower can then file an award claim using a Form WB-APP.

Whistleblower rewards under the Dodd Frank Act range between 10-30% of the monies collected from successful enforcement actions.

“The whistleblower brought valuable information to the attention of the SEC, causing it to open a new investigation into wrongdoing,” said Emily Pasquinelli, Acting Chief of the SEC’s Office of the Whistleblower. “The whistleblower further assisted the SEC by providing ongoing assistance as the Commission’s investigation progressed. This award shows the significant help a whistleblower can provide by sharing information of potential violations of the federal securities laws with the Commission.”

Ben Kostyack also contributed to this article.