All about the anti-money laundering act and whistleblower’s rights

There are many criminals, happily enjoying their ill-gotten monetary gains by laundering through established banks. There’s a dire need of new legislation to reinforce the global anti-money-laundering policy in many ways, including allowing whistleblowers a prime role in this battle.

Money laundering is the handling of ill-gotten money to disguise its illicit origin. Because the nature of the money laundering is illegal, there’s no precise estimates of the money laundering scopes; however the criminal proceeds around the globe amounts to 3.6% of global GDP, of which 2.7% is laundered, equivalent to 1.6 billion dollars. This kind of criminal act significantly affects leading environments and many other aspects of a society around the globe, including wildlife trafficking and climate crisis. Many large scale financial organizations, however, profit from such practice. Money laundering contributes to unsustainable fossil fuel extraction and illegal deforestation, while local communities remain deprived of all the benefits. Having failed to raise a red flag against such criminal act, banks can further add to the climate crisis as they are forced to disguise illegal proceeds or logging, eventually concealing the evidence of bribery in many leading processes.

Numerous measures have been brought into play to fight this practice, including ownership registration, but the latest whistleblower law and protections are considered the most effective so far. Anti-money laundering whistleblowers play a major role in national strategy to counter fight financial corruptions as insiders. Whistleblowers often have the access to critical information as to the crimes they are likely to report and this has been exemplified by many cases so far around the world. However, the real concern is whistleblowers losing their job in the act.

Now, new laws ensure protection of anti-money laundering whistleblowers’ rights and careers as they anonymously report the crimes taking place inside their own organizations. Brown, LLC fights for the braves who decide to put an end to such crimes with government’s help. We allow you to report money laundering under the proper and legal guidance provided by our anti-money laundering whistleblower attorneys, and also expect potential big whistleblower rewards.

The Anti-Money Laundering Act allows substantial incentives, plus protections for those who come forward and report illegal money laundering that’s been taking place inside reputable financial institutions and other accompanying establishments. The Anti-Money Laundering Act awards whistleblowers up to 30% of the proceeds recovered by the government.

You can speak to our whistleblower lawyer any time for free and confidential consultation about your case as well as rights. 

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Created on Apr 15th 2021 02:44. Viewed 676 times.

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