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Anti-Money Laundering Act Broadens Potential Sources for Whistleblower Claims

Fri 10th Feb 2023, Blog

The Anti-Money Laundering (AML) Whistleblower Improvement Act, passed in December 2022, is expanding protections for whistleblowers disclosing global money laundering – specifically by Russian oligarchs – and violating U.S. sanctions.  Whistleblowers stand to receive 10% to 30% of the value of fines collected from their reporting.

BKLW Partner Dan Goldman spoke with Best Lawyers about the broadening of potential sources for whistleblower claims with the passage of AML.

“While AML and sanctions-related compliance concerns used to be an area of focus only for large financial institutions,” Mr. Goldman said, “today, AML and sanctions-related issues affect a wide range of industries from cryptocurrency exchanges and payment processors to real estate and art market participants.”

Read more about the Anti-Money Laundering (AML) Whistleblower Improvement Act and its potential impacts via Best Lawyers’ Insights.

Learn more about BKLW’s whistleblower and qui tam practice, and its success in USA ex rel. Brown v. Celgene, which resulted in a record $280 million settlement and $78 million relator share for our client.

BKLW Partner Dan Goldman has significant experience representing individuals and entities in high-stakes cases and investigations involving financial and securities fraud, market manipulation, tax offensesForeign Corrupt Practices Act violationsantitrust violationsRICO charges, sanctions violations, allegations of public corruption, and healthcare offenses.  In his civil practice, Dan has represented both plaintiffs and defendants in multi-million dollar disputes, and has handled matters involving securities and derivative litigationcontract disputes, business torts, and other commercial matters.