Action 1 of 2024 urges legislators to DEMAND that FinCEN ensures that the process for whistleblowers aligns with U.S. anti-corruption priorities.
In December 2022, Congress passed the Anti-Money Laundering (AML) Whistleblower Improvement Act. The law establishes a whistleblower award program for individuals who report money laundering and sanctions violations. It is the most important anti-corruption law passed in decades.
Despite the urgent nature of this issue, the U.S. Treasury Department and Financial Crimes Enforcement Network (FinCEN) have not implemented the AML Whistleblower Improvement Act. Action 1 of 2024 calls on FinCEN to enact AML regulations.
Money laundering is intimately tied to corruption around the globe. Because the AML Whistleblower Program has a transnational reach, whistleblowers do not need to be U.S. citizens to qualify for awards. The program helps U.S. authorities tackle corruption overseas, including the most pressing national security crises. For example, 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.
For more information, please refer to the National Whistleblower Center’s (NWC) AML Regulations Web page.
Recognized by the NWC, Tracie Burke is author of Motion to Quash. 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 .
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