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Whistleblower Protection Policies Bank Secrecy Act

Oberheiden P.C.

10 Important Facts About FinCEN’s Whistleblower Program

Oberheiden P.C. on

The Financial Crimes Enforcement Network (FinCEN) is one of a handful of federal authorities that have adopted whistleblower programs focused on facilitating enforcement in hard-to-target areas. While FinCEN focuses its...more

Ballard Spahr LLP

DOJ Unveils Corporate Whistleblower Awards Pilot Program – With Implications for Financial Institutions and AML/CFT Compliance...

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On August 1, 2024, the Department of Justice launched its Corporate Whistleblower Awards Pilot Program (the “Pilot Program”). Under this 3-year initiative managed by DOJ’s Criminal Division, a whistleblower may be eligible...more

Goodwin

Stress Test Scenarios Released for 2022

Goodwin on

In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

The Volkov Law Group

Whistleblower Protections under the Anti-Money Laundering Act of 2020

The Volkov Law Group on

When Congress overrode former President Donald J. Trump’s veto of the 2021 National Defense Authorization Act (“NDAA”) in January of this year, it simultaneously enacted the Anti-Money Laundering Act of 2020 (“AMLA”) into...more

Ballard Spahr LLP

The New BSA Whistleblower Law: What You Need to Know

Ballard Spahr LLP on

Today’s episode features a discussion of the new whistleblower provisions in the Anti-Money Laundering Act of 2020. We’ll discuss the types of businesses covered, who can be a whistleblower under the Act, the increased...more

Vinson & Elkins LLP

OSHA’s Expanding Horizons: Whistleblower Protections For Money Laundering And Criminal Antitrust Violations

Vinson & Elkins LLP on

At this point, most employers probably know that the Occupational Safety and Health Administration (“OSHA”) is charged with investigating far more than workplace safety. Indeed, OSHA has a robust Whistleblower Protection...more

Holland & Knight LLP

Key Provisions of the Anti-Money Laundering Act of 2020

Holland & Knight LLP on

The Anti-Money Laundering Act of 2020 (AMLA 2020) became law on Jan. 2, 2020, when Congress overrode President Donald Trump's veto of the National Defense Authorization Act. AMLA 2020 is the most consequential anti-money...more

Miles & Stockbridge P.C.

Top 5 Changes To Anti-Money Laundering Requirements

On January 1, 2021, the National Defense Authorization Act became law after Congress overrode the President’s veto. As highlighted below, Congress enacted a variety of key provisions that create significant and sweeping...more

Eversheds Sutherland (US) LLP

Congress passes the Anti-Money Laundering Act of 2020, amending and modernizing the Bank Secrecy Act

On January 1, 2021, the US Senate voted to override President Donald Trump’s veto of H.R. 6395, the National Defense Authorization Act for Fiscal Year 2021 (NDAA). As part of the NDAA, the Anti-Money Laundering Act of 2020...more

Thomas Fox - Compliance Evangelist

Major Changes in AML Compliance and Enforcement – Whistleblower Provisions

2020 was a most significant year in anti-corruption enforcement, from Airbus SE to Goldman Sachs Group, Inc., and numerous matters in between. Further, there were two significant pieces of information from the US government...more

Latham & Watkins LLP

The Anti-Money Laundering Act of 2020: 5 Key Takeaways

Latham & Watkins LLP on

Expanded compliance obligations will have far-reaching implications for regulated financial institutions and most companies operating in the US. On January 1, 2021, Congress overrode President Trump’s veto and enacted the...more

Ballard Spahr LLP

Would-Be Whistleblower Fails to Show Causation Under the Bank Secrecy Act for Termination

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The Southern District of New York (“SDNY”) recently rejected a retaliation claim brought by a former bank employee under the Bank Secrecy Act (“BSA”), granting summary judgment in favor of the employer bank because the former...more

Ballard Spahr LLP

Case Highlights Potential Protections for BSA Whistleblowers

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A recent court opinion emphasizes the sensitive issues involved in terminating potentially difficult employees — or, from the employee’s or perhaps the government’s perspective, in terminating whistleblowers who were...more

Ballard Spahr LLP

Bank Whistleblower Suits Highlight Limits of Employee Confidentiality Agreements

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Employers increasingly face the difficult scenario of employees who misappropriate company data in the pursuit of whistleblower claims alleging misconduct by the employer. Such cases can present a complex mix of regulatory,...more

Seyfarth Shaw LLP

Federal Reserve Bank Ruled a Federal Supervisory Agency Under the BSA

Seyfarth Shaw LLP on

In a case of first impression, a district court held that a regional Federal Reserve Bank was a supervisory agent as defined by the Bank Secrecy Act (“BSA”). The BSA requires the reporting of any suspicious activity that may...more

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