Despite regulators making a compelling case to come clean, it’s unclear whether companies—and their legal departments—will buy into the Department of Justice’s new incentives to self-report wrongdoing in return for leniency.

It’s a tough call, because companies know that, if they stay silent, some violations will never be found. On the other hand, the agency has sweetened the pot by giving the first company engaged in a conspiracy that fesses up full leniency. As a result, in some cases there might be a race to be first to admit guilt.