On December 29, 2022, Congress passed the “Anti-Money Laundering Whistleblower Improvement Act” to motivate both would-be whistleblowers and the plaintiffs’ bar to pursue Anti-Money Laundering Act of 2020 (“AMLA”) and related claims more vigorously by providing certain financial incentives.
First, the Act entitles whistleblowers to an award of between 10 and 30 percent of the value of “monetary sanctions” above $1 million collected as a result of an enforcement action (importantly, “monetary sanctions” do not include forfeiture). … Continue Reading