Tips involving violations and conspiracies related to the Bank Secrecy Act (BSA), U.S. sanctions programs, and several other laws affecting financial system security may be entered through a new whistleblower website announced Friday by the Treasury’s financial crimes enforcement arm.
The new website (at https://www.fincen.gov/whistleblower/) is intended to confidentially accept whistleblower tips on fraud, money laundering, sanctions violations and other areas, according to Treasury’s Financial Crimes Enforcement Network (FinCEN).
“Whistleblowers are encouraged to submit information as soon as possible and to provide detailed, specific documentation to support their claims,” FinCEN said in a release.
Also Friday, Treasury announced initiatives aimed at combatting fraud, which includes investigating money services businesses (MSBs), and targeting misuse by of funding by certain tax-exempt organizations that operate for charitable, religious, educational, scientific or literary purposes.
The agency said the actions are aimed at enhancing reporting to accelerate prosecutions and recover laundered funds, alerting financial institutions to help disrupt fraud rings exploiting child nutrition programs, and training law enforcement to better leverage financial data to combat complex fraud schemes.
“In addition, the IRS will launch a dedicated fraud task force focused on targeting the misuse 501(c)(3) tax-exempt entities,” Treasury announced.
The agency also said it would be offering financial rewards for eligible whistleblower tips.
Treasury Accepting Whistleblower Tips on Fraud, Money Laundering, Sanctions Violations
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