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Anti Money Laundering Lawyer

Our team of anti-money laundering lawyers has been instrumental in creating stronger laws to protect and incentivize whistleblowers to come forward with information on money laundering.

We have collaborated with Congressional offices to draft amendments to the Anti-Money Laundering Improvement Act. The AML Whistleblower Improvement Act targets Russian oligarchs by establishing an effective whistleblower program to incentivize individuals across the globe to report money laundering and sanctions-busting schemes. The bill is modeled on the whistleblower provisions of the Dodd-Frank Act, which established the hugely successful SEC Whistleblower Program.

Kohn, a founding partner of Kohn, Kohn & Colapinto and Chairman of the Board of the National Whistleblower Center, spearheaded efforts to pass the AML whistleblower legislation over the past two years. He helped identify shortcomings in the AML Act of 2020, developed language to remedy the issues, and coordinated a grassroots campaign calling for the bill’s passage.Our firm has represented whistleblowers, including Danske Bank whistleblower Howard Wilkinson, since the 1980s and has been deeply involved in the passage of several modern whistleblower laws.

Under the revised AML laws, whistleblowers are granted full confidentiality. They are entitled to a mandatory reward ranging from 10 to 30% of the fines and sanctions imposed by the United States. Whistleblowers reporting money laundering can be located anywhere in the world and do not need to be U.S. citizens. However, foreign whistleblowers who have concerns about their safety, fear retaliation, or wish to file anonymously may want to seek the guidance of our attorneys before proceeding.

You need a reliable ally if you suspect a money laundering case and want to report it. Our track record of success and experience with large cases make us the strongest ally in any global anti-money laundering investigation.

Contact our AML lawyers for a free and confidential case evaluation. You can trust that you are in capable hands when working with Kohn, Kohn & Colapinto

Our Legislative Impact

Kohn, Kohn & Colapinto works for stronger anti-money laundering laws on Capitol Hill. These laws are essential for incentivizing whistleblowers to come forward, protecting the financial system’s integrity, and preventing illegal activities from being conducted through illicit funds.

Our law firm has worked closely with policymakers and lawmakers to educate them on the importance of these laws and to promote their adoption and enforcement. We’ve also engaged in grassroots efforts, such as public speaking and lobbying, to raise awareness and support for stronger AML laws.

Below are some examples of our efforts:

Latest Win! December 2022
Our team, working with the National Whistleblower Center and Whistleblower Network News, led a successful grassroots campaign that pushed for the passage of the Anti-Money Laundering Improvement Act. The AML Improvement Act protects and incentivizes whistleblowers who expose the hidden wealth of oligarchs, sanctions violations, and the illicit financial schemes of criminals.

This bill allows the Department of Treasury to track down the billions of dollars laundered through American banks. And also to seize the assets of Russian oligarchs and others who launder funds to hide their ill-gotten wealth.

  • 2021: Kohn, Kohn and Colapinto led advocacy efforts urging Congress to fix the whistleblower reward provisions of the Anti-Money Laundering Act of 2020 (AML Act).
  • 2018: Whistleblower attorney Stephen M. Kohn presented testimony before the European Parliament urging Europe to expand whistleblower protection to cover money laundering.
  • 2018: Our firm, working with the National Whistleblower Center, successfully urged Congress to amend the IRS tax whistleblower law to include all crimes investigated by the IRS criminal division, including money laundering.

Our AML Cases

60 Minutes Interview: Danske Bank Whistleblower

Howard Wilkinson

The AML lawyers at Kohn, Kohn and Colapinto represented the whistleblower who reported the largest money laundering scheme in world history — $230 billion laundered from Russia into Europe and the United States.

The scandal, reported by Howard Wilkinson, the former manager of international banking for Danske (Estonia), involves numerous banks and individuals, including Danske Bank, Deutsche Bank, J.P Morgan, and the Bank of America. His allegations triggered ongoing investigations in the United States, Denmark, Estonia, and Germany, among other countries. They have already resulted in numerous criminal prosecutions.

CBS’s 60 Minutes and The Wall Street Journal featured Wilkinson’s case. He also received the most prestigious award from the Association of Certified Fraud Examiners.

FRAUD MAGAZINE

The Smoke Detector

An interview with Danske Bank whistleblower Howard Wilkinson

By Dick Carozza, CFE;
Photos by Dave Phillips

Latest from Our Blog

  • January 24, 2023

    Stephen M. Kohn, Esq. writes for Reuters outlining the massive impact the new AML Whistleblower Improvement Act will have in fighting Russian corruption.

  • January 24, 2023

    On January 24, the U.S. Securities and Exchange Commission (SEC) issued a $28 million award to joint whistleblowers who alerted the agency to ongoing fraud, allowing the SEC to return millions of dollars to harmed investors. Qualified SEC whistleblowers, individuals who voluntarily disclose original information that contributes to the success ...

  • January 19, 2023

    On January 19, the U.S. Securities and Exchange Commission (SEC) awarded $18 million to three whistleblowers who separately made disclosures which contributed to the success of  the same enforcement action. The whistleblowers’ voluntary disclosures led to millions of dollars being returned to harmed investors. Qualified SEC whistleblowers, individuals who voluntarily ...

Frequently Asked Questions

The Anti-Money Laundering (AML) program is a set of laws, regulations, and procedures that financial institutions and other regulated entities must follow to prevent, detect, and report money laundering activities. These activities typically involve converting illegally obtained funds (i.e., proceeds of crime) into legitimate assets, often through complex financial transactions or disguising the proceeds as legitimate funds.

The AML program protects the integrity and stability of the financial system by detecting and deterring money laundering activities and ensuring that financial institutions do not facilitate illegal activities. Implementing customer due diligence measures, suspicious activity monitoring and reporting, and internal controls and policies ensure compliance with AML regulations.

Detecting money laundering is very difficult, which is why whistleblowers are so important. Whistleblowers with first-hand knowledge of money laundering activities can report these activities and file for rewards. Some other ways of detecting money laundering include:

  • Transaction monitoring: Financial institutions use automated systems to monitor transactions for unusual patterns or activity that may indicate due diligence on certain clients or transactions to identify any potential money laundering risks.
  • Data analytics: Financial institutions may use data analytics tools to identify patterns or anomalies in financial transactions that may indicate money laundering.
  • Cross-border transactions: Money laundering often involves moving funds between different countries. Identifying and tracking cross-border transactions (including cryptocurrency) can be crucial to detecting money laundering.
  • Identification: This involves identifying and verifying the identity of the customer or individual involved in the transaction.
  • Detection: This involves identifying and detecting suspicious activity or transactions that may indicate money laundering.
  • Investigation: This involves investigating and analyzing the identified suspicious activity or transactions to determine if money laundering has occurred.