Taiwan plans to boost monetary incentives for whistle blowers as it seeks to further maintain order of its financial market.

The bonus for reporting major and minor financial violations will be raised by 10 and five times, respectively, Taiwan's Financial Supervisory Commission said Jan. 7.

The regulator said in a media briefing that in the week of Jan. 11, the biggest reward for whistle blowers will be raised to NT$4 million, the Taipei Times reported Jan. 8.

This applies to those with information that exposes financial breaches in which companies or individuals are fined at least NT$10 million, or sentenced to a jail term of at least three years.

Whistle blowers who help uncover crimes that lead to fines of between NT$5 million and $10 million, or jail terms of between one year and three years, will receive NT$2 million, which is also 10 times the current incentive.

As of Jan. 8, US$1 was equivalent to NT$28.02.