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31 USC Section 5323

Establishes a whistleblower program under the Bank Secrecy Act that is administered by FinCEN. It provides financial incentives and anti-retaliation protections for individuals who report significant anti-money laundering, sanctions, and related financial crime violations.

Rule Overview

Jurisdiction: United States

Regulator: US Dept. of Treasury

Topic: Whistleblowing

31 USC Section 5323
Overview
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Further Reading
  • Individuals who voluntarily provide original, non-public information that helps the government successfully enforce covered violations may receive a financial award. 
  • Certain individuals are not eligible for awards, including:
    • government regulators;
    • law enforcement personnel acting within their official duties;
    • individuals convicted of crimes related to the misconduct they reported; and
    • individuals who knowingly provide false information.
  • Employers are prohibited from retaliating against employees for:
    • reporting suspected violations;
    • cooperating with investigations; or
    • raising concerns about conduct they reasonably believe violates laws within the jurisdiction of the Secretary of the Treasury.
  • Protected whistleblower activities include reporting concerns to:
    • government agencies;
    • Congress;
    • supervisors;
    • compliance personnel; or
    • others within the organization who are responsible for investigating misconduct.
  • The government generally must protect the confidentiality of whistleblower identities.
  • Employers generally cannot require employees to waive these whistleblower rights.
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