The passage of the Anti-Money Laundering (AML) Whistleblower Improvement Act in December 2022 was heralded by whistleblower advocates as a major development which would transform the ability of the U.S. to crack-down on money...more
5/8/2024
/ Anti-Money Laundering ,
Anti-Retaliation Provisions ,
BSA/AML ,
Civil Monetary Penalty ,
Enforcement Actions ,
FinCEN ,
Money Laundering ,
Reporting Requirements ,
Sanction Violations ,
Voluntary Disclosure ,
Whistleblower Awards ,
Whistleblower Protection Policies ,
Whistleblowers
It is now public knowledge that large corporate defense firms are representing whistleblowers under the Dodd-Frank Act. As part of an investigation into the U.S. Securities and Exchange Whistleblower Program, the online...more
Bloomberg’s coverage of an August 26, 2022 vote by the SEC Commissioners to modify two rules governing the Commission’s whistleblower program missed the real story. In its coverage, Bloomberg focused only on comments made by...more
On July 26, 2022 Bloomberg Law published an “investigation” into the Dodd-Frank Act whistleblower program. Its sensational lead paragraph concludes that the program “often ignores its own rules, shields much of its work from...more
The U.S. Treasury Department is currently drafting proposed rules to implement the whistleblower provisions of the Anti-Money Laundering (AML) Act of 2020. These rules will help determine the future success of the newly...more
Wall Street was stunned when, on October 21, 2021 the Commodity Futures Trading Commission (CFTC), a relatively obscure federal agency, announced a $200 million award payable to a whistleblower. This was the largest award...more
On January 8, 2017 the U.S. Merit Systems Protection Board (“MSPB”) lost its quorum and was no longer able to issue any final orders in federal employee whistleblower cases. This triggered, in the words of the , the “most...more
In 2006 Congress passed a qui tam whistleblower . It covered both tax frauds and underpayments, and also targeted illegal and undeclared offshore accounts secretly held by thousands of U.S. taxpayers. The law promised...more
On August 5, 2021, the U.S. Securities and Exchange Commission (SEC) issued a “ seeking to address regulatory roadblocks that have hindered the administration of the whistleblower reward program. This Statement follows just...more
In March, the Securities and Exchange Commission (SEC) alerted the public it was seeking input on its requirements for Environmental, Social, and Corporate Governance (ESG) disclosures by corporations. Increasingly...more
Pursuant to a Directive enacted by the European Parliament and Council, all 27 nations within the European Union (EU) must “bring into force” whistleblower protection “laws, regulations and administrative provisions” by...more
6/4/2021
/ Anti-Retaliation Provisions ,
Corruption ,
CSPA ,
Dodd-Frank ,
EU ,
European Parliament ,
False Claims Act (FCA) ,
Foreign Corrupt Practices Act (FCPA) ,
Fraud ,
Incentives ,
OECD ,
Proposed Legislation ,
Qui Tam ,
Right To Counsel ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Whistleblower Protection Policies ,
Whistleblowers
When the Anti-Money Laundering Whistleblower Act (“AML Act”) became law on January 1, 2021, some commentators praised it as a breakthrough. The law was modelled on the highly successful Dodd-Frank Act (“DFA”) and shared...more
Congress needs to implement an effective ethics agenda. Important anti-corruption legislation has been sitting in various Senate and House committees awaiting action....more
4/12/2021
/ Anti-Corruption ,
Anti-Money Laundering ,
BSA/AML ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Culture ,
Ethics ,
False Claims Act (FCA) ,
Fraud ,
Popular ,
Qui Tam ,
Regulatory Agenda ,
Trafficking ,
Whistleblower Protection Policies ,
Whistleblowers ,
White Collar Crimes ,
Wildlife Protection
A perspective from leading whistleblower attorney Stephen M. Kohn...more