Why FinCEN Should Quickly Establish Regulations for the New AML Whistleblower Program
The nascent AML whistleblower program promises to boost enforcement in a difficult area, but FinCEN must swiftly develop regulations to ensure that it launches the program in the most robust way possible.
Created by the Anti-Money Laundering Act of 2020 (AMLA), passed as part of the FY21 National Defense Authorization Act (NDAA), the program went into immediate effect. Motivated by retaliation protections and the...
D.C. Council Passes Amendment that Expands D.C. False Claims Act to Cover Tax Fraud
The D.C. Council has passed, by veto-proof majority, an amendment to its False Claims Act that expands the scope of the Act to cover tax fraud claims. The amended D.C. FCA will cover tax fraud claims against people and entities that file taxes in D.C., report at least $1 million in income, and understate their tax liability or seek a tax refund resulting in damages of $350,000 or more. D.C. joins New York and Guam,...
Congress Set to Pass NDAA with New Whistleblower Reward Provisions for Money Laundering
The FY21 National Defense Authorization Act (NDAA), likely to be passed by Congress this week, takes a critical step for anti-money laundering (AML) enforcement by creating a long overdue AML whistleblower program. The NDAA’s new whistleblower program, administered by the Department of Treasury, would provide for mandatory awards to whistleblowers who brought forward information about violations of the Bank...
(Published in Times Union)
Here is an idea for Albany. It would significantly strengthen the State's efforts to combat fraud, inject the State with tens of millions of dollars a year in added revenue, and most importantly, better protect the health and welfare of all New Yorkers. All it would entail is expanding New York's whistleblower rewards regime to include individuals exposing insurance fraud.
Proposed Changes to NY FCA Tax Provisions Rattle Potential Tax Fraudsters
New York is one of several states that has provisions in its state False Claims Act (“NY FCA”) allowing whistleblower (or qui tam) suits for violations of the state’s tax laws. On August 3, 2020 (Senate) and October 7, 2020 (Assembly), the New York state legislature, introduced bills proposing revisions to the NY FCA’s tax provisions.
(Guest Essay Published in the Dominion Post)
As the saying goes, Mountaineers are always free in West Virginia. Unfortunately, the cost of fraud is not. And as evidenced by the eye-popping $50 million fraud settlement the federal government just secured from Wheeling Hospital, there is a lot of fraud going around these days. The problem for the Mountain State is it does not have the proper tools to deal with...
With co-author Jack Kolar of the Government Accountability Project.
Legislation is now before the Pennsylvania Senate that, if signed into law, would protect COVID-19 stimulus funds, as well as other state programs, from fraud. As former federal prosecutors and current whistleblower attorneys, we strongly urge all Pennsylvanians to support enactment of the Commonwealth Fraud Prevention Act (CFPA). While the...
Colorado Law Offers Rewards for Whistleblowers Reporting Workplace Health and Safety Violations
As lock-downs and business shutdowns continue in the U.S., essential workers continue to report to work, providing healthcare, putting food on our tables, delivering goods and service, ensuring public safety, and more. These essential workers may face serious risks as they perform their jobs, often as a result of workplace health and safety violations by employers.
Responding to the unique challenges of the...