Tag: AML

Seven Major Campaigns to Support Whistlebowers

The 118th Congress has until January 3, 2025, to act on crucial whistleblower initiatives, which face political interference despite bipartisan support. Seven campaigns aim to enhance whistleblower protections and efficiency in reporting corruption. Key actions include improving programs at FinCEN, DOJ, SEC, IRS, CFTC, and establishing National Whistleblower Day.

Seven Major Campaigns to Support Whistleblowers:

The 118th Congress will end on January 3, 2025. Thus, there is one year remaining for Congress and the current-sitting executive officers to act on several pending whistleblower initiatives. These initiatives are based on the plain meaning of laws already passed by Congress and likewise have strong bipartisan support. The seven major campaigns are individually or collectively essential for the implementation of the U.S. Anti-Corruption Strategy. There is political interference by those who stand to lose when whistleblowers are incentivized and protected. These reforms should be quickly approved, but resistant executive agencies stall or block their approval. A timid Congress also contributes to the delay.

Action #1 of 2024 Call on FinCEN to Enact AML Regulations 

Passed in December 2022, the Anti-Money Laundering (AML) Whistleblower Improvement Act is the most important anti-corruption law passed in decades. The law establishes a whistleblower award program for individuals who report money laundering. It also targets sanctions violations.

Action #2 of 2024 DOJ must accept Confidential/Anonymous Disclosures

The Department of Justice still hasn’t implemented procedures for dealing with anonymous and confidential whistleblowers. These whistleblowers report violations of the Bank Secrecy Act. The Department has been legally obligated to do so since 2021.

Action #3 of 2024 Strengthen the SEC Whistleblower Program

Urge Congress to strengthen the SEC Whistleblower Program. Protect internal corporate whistleblowers by passing the bipartisan SEC Whistleblower Reform Act of 2023. Also, call on the SEC to broaden its definition of a voluntary whistleblower.

Action #4 of 2024 Support the IRS Whistleblower Program Improvement Act

The Internal Revenue Service (IRS) fails to compensate whistleblowers promptly. These delays, which the IRS admits are average over 10 years, cause untold hardship to whistleblowers. For example, many of them have lost their jobs and careers. So, their only hope for economic survival is the compensation promised under law.

Action #5 of 2024: Fix FCA loopholes

Thanks for all your support for the seven major campaigns so far! We’ve completed over half of our actions to kick off 2024, and we only have three more to go! Today’s action is very important because the qui tam provision of the False Claims Act is under attack. Whistleblower reports are responsible for over 70% of recovered assets under the FCA. (amounting to over $50 billion)

Action #6 of 2024 Strengthen the CFTC Whistleblower Program

The CFTC Whistleblower Program is in danger of being a victim of its own success. The CFTC created a fund when it introduced its whistleblower rewards program. The rewards program pays whistleblowers using the sanctions collected from whistleblower tips. But, this fund was capped at $100 million. Since the program started just over a decade ago, many whistleblowers have come forth. As a result, this fund is almost out.

Action #7 of 2024 Make National Whistleblower Day a Federal Day of Observance

Today marks the end of our seven major campaigns of action to start the new year. Today’s action is significant. As many of you know, each year, the National Whistleblower Center holds a celebration for National Whistleblower Day. Congress recognizes the day each year. Still, they have not taken action to permanently recognize July 30 as National Whistleblower Day.

Click the links to learn more and take action on the seven major campaigns to support whistleblowers. Thank you for your continued support. 

Recognized by the NWC, Tracie Burke is author of Motion to Quash. M2Q supports the Whistleblower Protection Act. If you would like to support journalism in the public interest, click here to donate. Motion to Quash ISSN 2644-1594 is the copyrighted property of Motion to Quash LLC .

Motion to Quash's Seven Major Campaigns on Behalf of NWC external link

Action #1 of 2024 Call on FinCEN to Enact AML Regulations

In 2022, Congress passed the Anti-Money Laundering (AML) Whistleblower Improvement Act in December 2022. The law establishes a whistleblower award program for individuals who report money laundering and sanctions violations and is the most important anti-corruption law passed in decades.

Money laundering is intimately tied to corruption around the globe. Because the AML Whistleblower Program has a transnational reach, violations can occur anywhere and whistleblowers do not need to be U.S. citizens to qualify for awards, it is uniquely positioned to help U.S. authorities tackle corruption overseas, including the most pressing national security crises like the war between Hamas and Israel, the war between Russia and Ukraine, terrorist financing, and drug trafficking. It is vital that FinCEN implement its whistleblower program quickly and that its regulations fulfill the mandate in the U.S. Strategy on Countering Corruption.

However, despite the urgent nature of this issue, the U.S. Treasury Department and Financial Crimes Enforcement Network (FinCEN) have yet to implement the AML Whistleblower program, nor regulations for the AML Whistleblower Improvement Act.

Contact your legislators and urge them to please DEMAND that FinCEN consider the following in order to maximize the law’s anti-corruption potential:

I. Ensure that the process for qualifying as a whistleblower aligns with U.S. anti-corruption priorities.
a. Allow whistleblowers identified in case investigations to be eligible for rewards, rather than by mandating technical form requirements for whistleblower reward eligibility.
b. Maintain the SEC’s “Three Conditions” for qualifying as a whistleblower, but expand the definition of “Voluntary” to its standard definition.
c. Ensure that critical whistleblowers have the right to make use of the AML Whistleblower Program.

II. Protect Whistleblowers.
a. Secure the Confidentiality & Anonymity of AML whistleblowers in ALL ongoing Federal investigations involving their disclosers.
b. Establish Consistent Inter-Agency Protocol with respect to Whistleblowers who have participated in crime.
c. Do not Incentivize – and absolutely do not require – Internal Reporting prior to filing AML claims with FinCEN, but ensure that those who file internally first maintain award eligibility.

III. Ensure that whistleblowers are fully compensated in a timely manner.
a. Give full force to related action provisions.
b. Do NOT place a cap on whistleblower rewards.
c. Establish and abide by a strict deadline for paying awards.

Please refer to the National Whistleblower Center’s (NWC) AML Regulations Webpage, whistleblowers.org/enact-aml-whistleblower-rules, for more information on our requests.

Recognized by the National Whistleblower Center (NWC), Tracie Burke is Louisiana author of Motion to Quash. She can be reached at tracie@motiontoquash.org. Motion to Quash LLC  successfully promoted legislation that supports the Anti-Money Laundering Act of 2020 and amendments to the Whistleblower Protection Act. Please Support journalism in the public interest by contributing today. Click here to donate Motion to Quash ISSN 2644-1594 is the copyrighted property of Motion to Quash LLC 2019.  NWC’s mission is to support whistleblowers in their efforts to expose and help prosecute corruption and other wrongdoing around the world. 

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