In today’s edition of Daily Compliance News:
Tag: AML Law of 2020
In this episode of the FCPA Compliance Report, I am joined by Mary Inman, partner at Constatine Cannon. We look at recent developments in whistleblowing and how the Ukraine War has increased the visibility of whistleblowers. Highlights of this podcast include:
- Whistleblower Reward Program at the US Treasury Department/FinCEN – what is its relevance to corruption, anti-money laundering and the Ukraine conflict.
- The House Committee on Financial Services voted to strengthen the U.S. Treasury’s Anti-Money Laundering (AML) whistleblower program. What does this mean for this nascent program?
- How does a minimum whistleblower reward threshold, whistleblower incentives and injects more certainty into the Anti-Money Laundering whistleblower program.
- How does expanding AML whistleblower rewards to cover laws applicable to Russian sanctions, Congress is enlisting the help of the private citizenry.
- Lisa Monaco recently spoke about the government relying on corporations to ID instancesof money-laundering and other activities to help enforcement Russia economic sanctions and broader trade sanctions. Do you see private citizen or other whistleblowers as a key component of this fight?
- How has the Ukraine War raised the profile of whistleblowers and whistleblowing?
- Starting with SOX, then Dodd-Frank and the AML Law of 2020 has the US government began to understand whistleblowers as a key component in the fight against fraud, waste and abuse.
- Has the government embraced these same strategies and tactics in the wider fight against corruption?
- Tribute to Chuck Grassley for his advocacy of whistleblowers.
Resources
Mary Inman on Constantine Cannon website
Welcome to this special podcast series, Integrity Matters sponsored by K2 Integrity. For this series, I visit with Koby Bambilia, Managing Director, and Olivia Allison, Senior Managing Director. Over the series, we look some issues and trends going forward into 2022. In this Part 2, I am joined by Koby Bambilia who looks at trends regarding AML going into 2022. Some of the highlights include:
- Impact has there been to-date from the passage of the AML Act of 2020?
- What has been on the mind of clients and others in the market?
- Has COVID and the global crises created shifted just how bad actors take advantage of the financial system?
- How are you advising your clients to mitigate these risks and get ahead of the rule making as we head into 2022?
Resources
Koby Bambilia Profile
K2 Integrity
Part 2 of this Fraud Eats Strategy series, Scott Moritz continues the conversation on the Anti-Money Laundering Act of 2020 (AMLA 2020) with Matt Biben, Partner of Gibson Dunn.
Join us each week as we take a deep dive into the various forms of fraud across the world and discuss crime families, penny stock boiler rooms, international money launderers, narco-traffickers, oligarchs, dictators, warlords, kleptocrats and more.
Scott Moritz is a leading authority on white-collar crime, anti-corruption, and in the evaluation, design, remediation, implementation, and administration of corporate compliance programs, codes of conduct. He is also considered an authority in the establishment, training, and oversight of the investigative protocols carried out by financial intelligence, corporate security, and internal audit units.
