News & Analysis as of

Whistleblowers AML/CFT

A&O Shearman

UAE's enhanced AML and CTF Regime: a journey from grey list to compliance

A&O Shearman on

The UAE has continued to implement significant legislative and structural reforms during 2024 in areas including financial crime compliance, whistleblowing, and virtual assets regulation. These improvements demonstrate the...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - October 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Ballard Spahr LLP

New FinCEN Director Addresses Key Topics in BSA/AML

Ballard Spahr LLP on

The new Director of FinCEN, Andrea Gacki, addressed several key topics on October 3, 2023 at the Association of Certified Anti-Money Laundering Specialists (“ACAMS”) conference in Las Vegas, Nevada. Specifically, Director...more

Hogan Lovells

Aerospace and Defense Insights: Bribery and Corruption Outlook 2022

Hogan Lovells on

Today’s world is increasingly divided between kleptocracies that benefit from corruption as well as financial crimes and governments committed to fighting those crimes. Despite aggressive anti-corruption enforcement in parts...more

The Volkov Law Group

FINRA Reminds Broker-Dealers on Importance of Compliance with New AML Rules

The Volkov Law Group on

The new Anti-Money Laundering laws and regulations continue to roll out with new risks, liabilities and compliance requirements.  There is a coming AML enforcement storm, fueled by a new AML whistleblower program that will...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

Morgan Lewis - Up & Atom

OSHA to Investigate Whistleblower Complaints under Criminal Antitrust Anti-Retaliation Act and Anti-Money Laundering Act

The US Department of Labor (DOL) announced on February 19 that the Occupational Safety and Health Administration (OSHA) will begin investigating whistleblower complaints of retaliation under the Criminal Antitrust...more

Orrick, Herrington & Sutcliffe LLP

The Anti‐Money Laundering Act of 2020

On January 1, 2021, Congress enacted a broad range of anti-money laundering (“AML”) reforms within the Anti-Money Laundering Act of 2020 (the “AML Act”), as part of the National Defense Authorization Act for Fiscal Year 2021...more

Hogan Lovells

The Australian Government introduces the Crimes Legislation Amendment (Combatting Corporate Crimes) Bill 2019 (Cth) targeting...

Hogan Lovells on

Recently, three of Australia's four largest banks have self-reported breaches of anti-money laundering and counter-terrorism financing laws. Commonwealth Bank of Australia in 2018 admitted fault and agreed to pay a civil...more

Ballard Spahr LLP

The House Financial Services Committee Releases Proposed Legislation to Codify BSA/AML Reform Initiatives

Ballard Spahr LLP on

Last week, the House Financial Services Committee released three proposed bills to codify many of the reform ideas that have arisen in an ongoing conversation among financial agencies, law enforcement, financial institutions,...more

Ballard Spahr LLP

When A Purported Money Laundering Investigation Turns Into a Class Action Complaint: The Latest Round in BofI’s Fight to Put Money...

Ballard Spahr LLP on

In February 2017, we blogged about a whistleblower complaint filed against Bank of the Internet (“BofI”) by its former internal auditor. The blog post addressed what the whistleblower believed was BofI’s wrongdoing in...more

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