The U.S. Securities and Exchange Commission (SEC) announced on Tuesday it will award more than US$4 million to a whistleblower that tipped off the agency to a fraud.

The SEC does not release details of whistleblower cases in order to protect the anonymity of industry tipsters.

With this latest award, the SEC’s whistleblower program has now awarded more than US$111 million to 34 whistleblowers since the program was launched in 2011.

Earlier this year, the Ontario Securities Commission (OSC) launched Canada’s first program at a securities regulator that will pay rewards for information that lead to significant enforcement action.