ARTICLE · 22 MAY 2024

FinCEN Head Praises New AML Whistleblower Program

Kohn, Kohn & Colapinto, LLP

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The passage of the Anti-Money Laundering (AML) Whistleblower Improvement Act in December 2022 was heralded by whistleblower advocates as a major development...

United StatesGovernment, Public Sector

Stephen M. Kohn

Geoff Schweller

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The passage of the Anti-Money Laundering (AML) Whistleblower Improvement Act in December 2022 was heralded by whistleblower advocates as a major development which would transform the ability of the U.S. to crack-down on money laundering and sanctions evasion. On May 6, Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN), highlighted the success so far of the law and the AML and Sanctions Whistleblower Program it helped establish.

"A significant component of such [enforcement] efforts is FinCEN's commitment to implementing, and realizing the full potential of, its new Anti-Money Laundering and Sanctions Whistleblower Program," Gacki stated at SIFMA's Anti-Money Laundering & Financial Crimes Conference.

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