AML Whistleblower Rewards Regulation Could Be A Recreation Changer

Law360 (December 18, 2020, 3:57 PM EST) — The yearly U.S. Office of Defense authorization that Congress lately passed involves the Anti-Money Laundering Act, a complete reform of anti-money laundering laws.

Recognizing the achievements of whistleblower incentives in combatting fraud towards the authorities, securities fraud, tax fraud, commodities fraud and other sorts of fraud, Congress provided in the AMLA a provision that incentivizes whistleblowers to report violations of the anti-income laundering legislation to the U.S. Division of the Treasury.

The AMLA also safeguards whistleblowers who go through retaliation for reporting these types of violations to their employer or the federal government. Encouraging whistleblowers to choose the remarkable hazard of exposing funds laundering could…

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