Anti-Money Laundering and Sanctions Whistleblower Program

Whistleblowers can receive awards for reporting violations of the Bank Secrecy Act and sanctions laws In 2021, the United States took a critical step for anti-money laundering (AML) enforcement by creating a long overdue AML whistleblower program.  The new whistleblower program, was passed as part of the Anti-Money Laundering Act of 2020 (AMLA), part of the National Defense Authorization Act (NDAA).  The new program is administered by the Department of Treasury...

Money Laundering and Related Financial Institution Fraud

Corrupt government actors who have profited from bribes and other wrongful conduct want to spend their ill-gotten gains. So do kleptocrats, drug dealers and other criminals. Individuals and entities subject to U.S. economic sanctions want to make purchases on the global markets and protect their ill-gotten gains. In order to shield their dirty money and access global markets, these bad actors take advantage of offshore banking in jurisdictions offering financial...