RULE 21

Money Laundering and Sanctions-Busting: Report to FinCEN/Treasury

Anti-Money Laundering: Report to FinCEN/Treasury

Introduction

The 2022 Anti-Money Laundering Whistleblower Improvement Act revitalized AML and sanctions reporting by extending Dodd-Frank style protections to whistleblowers reporting these crimes.

The Bank Secrecy Act requires robust AML programs, suspicious activity report filings, “know your customer” protocols, and sanctions enforcement from banks, financial institutions, and cryptocurrency wallets. These entities fall under the jurisdiction of the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN).

Howard Wilkinson’s Danske Bank case serves as a stark warning for companies lacking adequate AML safeguards. Discover the intricacies of money laundering and sanctions, as well as their connection to whistleblowing, in our Rule 21.

Practice Tips

Resources

The Anti-Money Laundering Whistleblower Protection Act, passed in Dec. 2022, will be codified at 31 U.S.C. § 5323. The Act was passed as House Bill 7195/Senate Bill 3316.

The IRS whistleblower law that covers crimes investigated by the IRS criminal division is located at:

In The News: Advocacy for the AML Bill

Frequently Asked Questions

Related Rules

Rules for Whistleblowers - 3 Ways to Order

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All purchases or donations proceeds go to support the National Whistleblower Center, a 501(c)(3) non-profit organization dedicated to supporting whistleblowers.

What's Inside

This books covers all federal and state laws regarding whistleblowing, including protections, rewards, and procedures for whistleblowing.

Stephen Kohn

Meet the Author

Stephen M. Kohn is considered the world’s leading authority on international whistleblower law, and behind some of todays modern whistleblower rules.

Introduction: The Revolutionary Roots of Modern Whistleblowing

Law Library

The Law Library is a free companion to the Rules for Whistleblowers, complete with relevant whistleblower cases and important links and resources.

Stephen Kohn

Speaking Engagement

Stephen Kohn enjoys speaking to universities of all sizes, students and professionals, the media, general public, and government officials.

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