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Increased Rewards for Anti-Money Laundering Whistleblowers

New rules increase rewards for individuals who report money laundering, aiming to encourage the disclosure of illegal financial activities. Citizens with information about such crimes can expect higher compensation for helping to detect and prosecute them. This aims to strengthen the fight against financial crime and protect the integrity of the financial system.
Key points
Whistleblowers reporting money laundering can receive 10% to 30% of collected financial penalties.
A special fund (Financial Integrity Fund) is established to pay whistleblower awards, funded by penalties from financial crimes.
The provisions aim to encourage more people to report illegal activities, potentially leading to more effective prosecution of financial criminals.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_3316
Sponsor: Sen. Grassley, Chuck [R-IA]
Process start date: 2021-12-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Anti-Money Laundering Whistleblower Improvement Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3316.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-12-06.

What are the main provisions?

Key points include:

  • Whistleblowers reporting money laundering can receive 10% to 30% of collected financial penalties.
  • A special fund (Financial Integrity Fund) is established to pay whistleblower awards, funded by penalties from financial crimes.
  • The provisions aim to encourage more people to report illegal activities, potentially leading to more effective prosecution of financial criminals.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Grassley, Chuck [R-IA].

What is the latest detailed status?

The latest detailed status is: Passed Senate with an amendment by Voice Vote. (text of amendment in the nature of a substitute: CR S7037-7038)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Courts and Law Economy