AML Whistleblower Rewards Law Could Be A Game Changer
Law360 (December 18, 2020, 3:57 PM EST) -- The annual U.S. Department of Defense authorization that Congress recently passed includes the Anti-Money Laundering Act, a comprehensive reform of anti-money laundering laws.
Recognizing the success of whistleblower incentives in combatting fraud against the government, securities fraud, tax fraud, commodities fraud and other types of fraud, Congress included in the AMLA a provision that incentivizes whistleblowers to report violations of the anti-money laundering laws to the U.S. Department of the Treasury.
The AMLA also protects whistleblowers who suffer retaliation for reporting such violations to their employer or the government. Encouraging whistleblowers to take the extraordinary risk of exposing money laundering could...
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