The Anti-Money Laundering Whistleblower Improvement Act has potential to be the most effective transnational anti-corruption law on the books.
In 2024, the law, and the AML Whistleblower Program it established, should start to deliver on this potential as whistleblower award programs continue to play a more central role in US global anti-corruption efforts.
The program dates to 2020 and the passage of the AML Act of 2020. This version of the law was undermined by loopholes, notably including a lack of mandatory whistleblower awards. Whistleblower advocates quickly called for reforms to the law while reporting showed that whistleblowers were unwilling to report to the program because of these deficiencies.
The AML Whistleblower Improvement Act, signed into law on Dec. 29, 2022, directly addressed the deficiencies with the AML Whistleblower Program. Qualified whistleblowers are now entitled to monetary awards of 10% to 30% of the funds collected in an enforcement action connected to their disclosure.
Furthermore, in light of Russia’s invasion of Ukraine, the Improvement Act expanded the AML Whistleblower Program to cover sanctions violations.
Under the reformed AML Whistleblower Program, individuals from across the globe may anonymously report money laundering and other violations of the Bank Secrecy Act as well as sanctions...
Medicare and Medicaid provide health care coverage to millions of Americans and are aggressively protected by federal and state authorities. The Department of Health and Human Services Office of In...