Is it though? A settlement in a civil case is money in exchange for not pursuing further civil legal action.
A situation of "we're giving you money so that you don't report a crime" (which is implied by "turning in to the authorities") is more like extortion/bribery than it is a settlement.
A situation of "we're giving you money so that you don't report a crime" (which is implied by "turning in to the authorities") is more like extortion/bribery than it is a settlement.