Treasury’s New Bank Secrecy Act Whistleblower Program
By EsqSocial Corporation 26/01/21
In perhaps the last major legislative action under this presidential administration, on New Year’s Day 2021, Congress passed—over President Trump’s veto—what could be the most significant anti-money laundering (AML) statute since the Patriot Act of 2001, as part of the annual National Defense Appropriations Act (NDAA). Among many changes to the existing AML regime, the legislation creates a new whistleblower reward program, administered by the Treasury Department’s Financial Crimes Enforcement...
By: Buchalter