Whistleblower Protections Under the Anti-Money Laundering Act (AMLA) | Practical Law

Whistleblower Protections Under the Anti-Money Laundering Act (AMLA) | Practical Law

A Practice Note describing the whistleblower protection and reward program under the Anti-Money Laundering Act of 2020 (AMLA) (31 U.S.C. § 5323), as amended by the Consolidated Appropriations Act, 2023 in December 2022 (HR 2617, P.L. 117-328). This Note discusses whistleblower awards available to individuals reporting violations of the Bank Secrecy Act (BSA) and sanctions violations, including the AMLA's scope of coverage, the information qualifying individuals for an award, and the award calculations and procedures. This Note also discusses the anti-retaliation whistleblower protections under the AMLA, including information about protected activity, adjudicating retaliation claims, and available remedies. This Note covers federal law. State and local law may provide additional whistleblower and anti-retaliation protections for employees.

Whistleblower Protections Under the Anti-Money Laundering Act (AMLA)

Practical Law Practice Note w-038-3094 (Approx. 19 pages)

Whistleblower Protections Under the Anti-Money Laundering Act (AMLA)

by Jason Zuckerman and Matt Stock, Zuckerman Law, with Practical Law Labor & Employment
MaintainedUSA (National/Federal)
A Practice Note describing the whistleblower protection and reward program under the Anti-Money Laundering Act of 2020 (AMLA) (31 U.S.C. § 5323), as amended by the Consolidated Appropriations Act, 2023 in December 2022 (HR 2617, P.L. 117-328). This Note discusses whistleblower awards available to individuals reporting violations of the Bank Secrecy Act (BSA) and sanctions violations, including the AMLA's scope of coverage, the information qualifying individuals for an award, and the award calculations and procedures. This Note also discusses the anti-retaliation whistleblower protections under the AMLA, including information about protected activity, adjudicating retaliation claims, and available remedies. This Note covers federal law. State and local law may provide additional whistleblower and anti-retaliation protections for employees.