The Financial Crimes Enforcement Network (FinCEN) recently launched a new webpage dedicated to confidentially accepting whistleblower tips regarding fraud, money laundering and sanctions violations and other laws deemed critical to safeguarding the U.S. financial system and national security.
The agency’s whistleblower program is designed to incentivize and protect individuals with information about violations of certain legal statutes and their implementing regulations, or conspiracies to commit such violations, to come forward.
Specifically, FinCEN is encouraging whistleblowers to provide such details about violations concerning:
- Bank Secrecy Act;
- International Emergency Economic Powers Act;
- Trading With the Enemy Act; or
- Foreign Narcotics Kingpin Designation Act.
Whistleblowers may be eligible for an award if they provide information that leads to a successful enforcement action by the U.S. Treasury or the Department of Justice, resulting in monetary penalties exceeding $1 million, provided requirements outlined in 31 U.S.C. § 5323 and its implementing regulation are also met.
Whistleblowers are encouraged to submit information as soon as possible and to provide detailed, specific documentation to support their claims.