Tuesday afternoon, President Donald Trump announced a new initiative aimed at rooting out fraud in federal government programs — and Americans who help uncover it could receive a financial reward.

During an Oval Office event alongside Vice President JD Vance and other administration officials, Trump unveiled the Fraud Whistleblower Incentive Program, which will allow Americans to report suspected corruption and theft of taxpayer dollars in their communities.

Under the program, whistleblowers may receive a commission of 1 percent of the fraud uncovered, according to the announcement. The administration also announced a $25 million fund for the initiative, with individual rewards advertised at up to $30,000.

The administration is directing Americans to America.gov/fraud, where they can submit reports of suspected fraud involving government programs.

Trump pointed to several examples of fraud and improper payments that his administration says it has identified, including 160,000 deceased individuals removed from food stamp rolls, 275,000 illegal aliens removed from Social Security, and 562,000 fraudulent small-business loans discovered.

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He also cited the elimination of $125 billion in Obamacare subsidies for foreign migrants and the termination of funding to hundreds of allegedly fraudulent hospice facilities that he said had received $1.4 billion.

Trump emphasized the potential financial impact of the administration's efforts, arguing that identifying and stopping fraud could make a "tremendous difference" in reducing the federal deficit.

CMS Administrator Dr. Mehmet Oz stressed that fraud has consequences beyond the financial losses.

"Fraud doesn't just steal our money. Fraud steals people's lives, and it also steals our trust as a nation," Oz said. "And that is devastating to any country."

Vice President Vance explained that the administration wants to encourage Americans to report suspected wrongdoing even when it falls outside the scope of existing federal whistleblower provisions.

"Over 99 percent of the fraud that we're finding in the federal government isn't covered by the False Claims Act," Vance said. He added that the president wants Americans who discover fraud, provide evidence, and help the government recover stolen money to benefit financially from their efforts.

The announcement also featured independent journalist Nick Shirley, who criticized the media and political response to his investigations.

"There's never been an incentive for anyone to ever expose fraud. In fact, when I exposed fraud, instead of the mainstream media investigating the fraud, they investigated ME," Shirley said, adding that he had received death threats after exposing alleged wrongdoing.

The new initiative gives Americans another avenue to bring suspected fraud to the government's attention — with the possibility of getting paid for helping recover taxpayer dollars. 

Win-win!