In The Hill this week, I argue that the newly proposed ENABLERS Act is a lot more powerful than even its authors seem to realize. The proposed law would effectively expand the Bank Secrecy Act to apply the same reporting requirements currently imposed on banks to all sorts of actors who enable (get it?) money laundering: lawyers, investment advisers, accountants, art dealers, public relations firms, and the like. ...
Passage of “Silenced No More Act” Poised to Usher in New Era of Transparency, Where California Whistleblowers Will No Longer be Gagged by Overly Broad Non-Disclosure Agreements and Non-Disparagement Clauses and Can More Freely Report Corporate Fraud
On Monday, August 30th, the California Legislature took a giant leap forward in promoting transparency, corporate accountability, and integrity by passing Senate Bill 331, the “Silenced No More Act,” which is soon to be one of the country’s most advanced laws redressing the insidious role NDAs and other concealment and non-disparagement clauses have played in preventing whistleblowers from speaking up about...
Whistleblowers are Essential to Protect Infrastructure Funds
America’s roads, bridges, power grids, and airports are a mess. Recently a group of civil and structural engineers graded the nation’s infrastructure a below-average C-. The Bipartisan Infrastructure Bill currently before Congress aims to solve some of those issues, with what the White House described as “a once-in-a-generation investment in our infrastructure.” The Bipartisan Infrastructure Bill promises...
Biden Administration Focuses on Cybersecurity in Government Contracting – What Can Whistleblowers Do?
Following a number of high-profile cybersecurity incidents, the Biden administration is taking steps to improve the nation’s cybersecurity infrastructure. The federal government is making cybersecurity an enforcement priority, devoting additional resources to enforcement and upgrades, and strengthening technology standards. Many of these planned improvements focus on the federal government’s own information...
Auto-safety regulators finally take steps to stand up nation’s only safety-focused whistleblower program, but challenges lie ahead
Back in 2015, the public seethed over the auto industry’s historic failures. Takata’s air-bag scandal, Toyota’s unintended-acceleration deceptions, and General Motors’s deadly ignition-switch cover-up were in the headlines. Hundreds died and millions were exposed to grave dangers because of the industry’s propensity to bury known safety defects.
In 2015, Congress tried to turn the tide, passing the
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...