Introduction
Individuals with information about anti-money laundering, Bank Secrecy Act (BSA), or sanctions violations can blow the whistle anonymously to the Financial Crimes Enforcement Network (FinCEN) and potentially qualify for an award.
The AML Whistleblower Improvement Act (2022) was strengthened and passed under the Omnibus Budget bill. This new bill set FinCEN awards at 10–30% of monetary sanctions over $1M, added a mandatory minimum, and created a funded award pool.
You do not have to be a U.S. citizen to become a FinCEN whistleblower and qualify for an award. The program also covers violations taking place anywhere in the world, not just in the U.S., making it potentially one of the best anti-corruption laws today.
Continue reading to learn more about the process of reporting to FinCEN and what you can expect before, during, and after you’ve filed a claim.
Before You Begin: FinCEN Whistleblower Self-Assessment
If you have strong evidence of a violation, it’s imperative that you keep the information to yourself to avoid retaliation – especially if you reside in a country where there is systemic corruption and a history of violence against those who seek justice.
Below are the requirements for a strong FinCEN case:
- Specific, credible, and original information about a BSA/AML or sanctions violation
- The ability to show your information is independent and not known to the government
- Confidence you’re reporting voluntarily — before any government inquiry reaches you
- Documentation, or knowledge of where it exists — without breaching legal privilege
- U.S. counsel if you intend to file anonymously or want to preserve award rights
- Awareness of the 120-day internal-reporting window if you work in compliance roles
- Patience for a multi-year, still-maturing process with no awards paid yet
The program exists by statute and FinCEN has an Office of the Whistleblower that has been accepting submissions with hundreds of unique tips already coming in. But awards cannot be paid until FinCEN finalizes its implementing regulations.
FinCEN submitted a Notice of Proposed Rulemaking on March 30, 2026, to establish the framework, and has indicated that whistleblower awards will begin to be processed and paid once the rule is finalized.
Attorneys with Inside Knowledge
International Whistleblower Advocates have been instrumental in working with the whistleblower legal community and several congressional members to demand that FinCEN draft strong rules to better support whistleblowers.
Well-prepared filers are potentially first in line once rules are finalized. Having expert international legal support like IWA on your side will be key to getting the maximum award amount while helping you navigate the new rules.
If you’d like to come forward and seek the best path forward, we suggest contacting our team for a free consultation before you begin the process.
Step 1: Verify Eligibility
Before filing, confirm you and your information meet FinCEN’s eligibility criteria.
FinCEN administers a whistleblower program that offers incentives and protections to encourage individuals to come forward with information about violations or conspiracies to commit violations of the following statutes and their implementing regulations:
- Bank Secrecy Act (BSA): The core U.S. anti-money laundering law requiring financial institutions to keep records and report suspicious activity to help detect financial crime. Types of activities to report include: failures to maintain an adequate AML program, willful failure to file or falsifying Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs), structuring to evade reporting thresholds, money laundering, and similar evasion of the BSA’s controls.
- International Emergency Economic Powers Act (IEEPA): A 1977 law empowering the President to restrict transactions in response to foreign threats — the basis for most modern U.S. sanctions. Types of activities to report include: doing prohibited business with sanctioned persons, entities, or jurisdictions, or concealing such dealings. This reaches businesses that operate in sanctions-sensitive sectors, not only BSA-covered financial institutions.
- Trading With the Enemy Act (TWEA): A 1917 law allowing the President to restrict trade with hostile nations in wartime, now used mainly for legacy programs like certain Cuba sanctions.
- Foreign Narcotics Kingpin Designation Act (Kingpin Act): A 1999 law that blocks the U.S. assets of major foreign drug traffickers and bars Americans from doing business with them. Types of activities to report include: dealings that violate the blocking of significant foreign drug traffickers’ assets — e.g., providing financial or material support to, or transacting with, designated narcotics kingpins and their networks.
Those who voluntarily provide information may become eligible for an award. However, there must be successful enforcement action by the Department of the Treasury (Treasury) or the Department of Justice (DOJ) and the following criteria must be met:
- Information must be original (not already known by the government)
- You must be the original source of the information
- Monetary penalties must exceed $1,000,000
- Information must be provided voluntarily
- 31 U.S.C. § 5323 and its implementing regulation are met
- You must not have been criminally convicted in connection with the violation
Under the FinCEN whistleblower program, employees are not required to report their concerns internally first; they can come directly to FinCEN. You do not have to be a U.S. citizen to submit information, nor does the violation need to have occurred within the U.S.
Common FinCEN whistleblowers include bank employees, customers, clients, third-party vendors, contractors, and former employees. These individuals typically have greater first-hand knowledge or access to information of activities or compliance gaps that constitute violations.
Note though, certain insiders in compliance, audit, or fiduciary roles may face a 120-day waiting period before filing.
Step 2: Understand How FinCEN Calculates Awards
If you meet all the above criteria and your information leads to a successful enforcement action, you may qualify for a whistleblower award. These awards range from 10% to 30% of the monetary sanctions collected in a successful covered action.
What is considered a monetary sanction?
A monetary sanction is defined as a penalty, fine, settlement payment, disgorgement, or interest, but not forfeiture, restitution, or victim compensation payments. In other words, the award is calculated on penalties collected, not on money returned to victims or seized through forfeiture.
What is a covered action?
A “covered action” is a judicial or administrative proceeding — civil or criminal — brought by Treasury or DOJ under a covered statute that results in monetary sanctions exceeding $1 million. This $1 million threshold is aggregate; thus, you do not need a single large penalty to qualify.
The proposed rule lets FinCEN aggregate amounts recovered across the enforcement of a covered statute with amounts recovered under other statutes or from information not provided by the whistleblower to reach the $1 million threshold.
For example, if your submission leads to separate enforcement actions by FinCEN, OFAC, and DOJ, each with $500,000 in sanctions, FinCEN may aggregate the $500,000 from each to meet the threshold and treat them as one covered action.
What about related actions?
Like the well-established SEC whistleblower program, FinCEN also factors in recoveries from related actions brought by other agencies or under other statutes and regulations. Meaning, if your tip drives an enforcement action by another authority, that recovery can also count.
Is there a minimum or a bias toward the maximum?
To encourage reporting of misconduct that might otherwise go undetected, the proposed rule presumes the maximum 30% award when 30% of the collected sanctions would amount to $15 million or less — unless paying the maximum would undermine the program’s integrity or objectives.
How are award percentages determined?
The 10% floor is set by statute; the percentage awarded above that is at FinCEN’s discretion.
Like other programs, FinCEN weighs factors such as the significance of the information, the degree of assistance provided, programmatic deterrence interests, the whistleblower’s culpability, and any unreasonable delay in reporting.
It’s important to note that the degree to which you used internal compliance and reporting systems can count in your favor.
Given the complexity of whistleblowing across agencies, we suggest you schedule a free and confidential consultation with an IWA attorney for a case evaluation.
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Step 3: Retain U.S. Counsel Before You File
Given the complex nature of whistleblowing, especially for non-U.S. citizens, we strongly urge you to hire an experienced U.S.-based whistleblower attorney. While you can submit an anonymous tip on your own, claiming an award anonymously requires that an attorney file on your behalf — and even at the tip stage, working with counsel is the safest way to protect your identity from the outset. Your attorney will hold your identity, sign and submit documents on your behalf, and ensure a clear line of communication between you and FinCEN’s Office of the Whistleblower.
Beyond anonymity, an experienced whistleblower attorney will help evaluate your case and help you determine what information qualifies as original and also help you gather additional evidence if necessary. Other benefits of an attorney:
- Help you with whistleblowing across various agencies, especially in related actions
- Ensure you meet important deadlines, especially if you’re subject to 120-day period
- Help you collect, transmit and manage key information across borders
- Maintaining eligibility and maximizing award potential
Remember, FinCEN weighs factors like the significance and clarity of your information and the degree of assistance provided, a well-prepared, well-supported submission can move you toward the upper end of the 10%–30% range.
Contingency
In many cases, you pay nothing unless your attorney secures an award — which aligns your lawyer’s incentives with yours, since both sides are motivated to obtain the highest possible recovery. Contact us today for a case evaluation and determine eligibility.
Step 4: Gather and Preserve Evidence
In evaluating your information, FinCEN is looking for information that is considered “original” and strong supporting evidence behind it.
In AML, BSA, and sanctions evasion cases, this is often evidence such as transaction records, wire transfer documentation, internal compliance reports or SAR/CTR filings (or evidence of their absence), customer onboarding and due-diligence files, internal emails and memos, or organizational charts, among others.
In sanctions matters — this might include shipping records, invoices, or correspondence showing prohibited dealings with sanctioned persons, entities, or jurisdictions.
As you document, preserve a clean, dated timeline — key dates, dollar amounts, accounts, entities, and individuals involved. If any documents are in a language other than English, full translations help both FinCEN and your attorney evaluate the case accurately, and translated materials may be required later.
Critical note: before you begin collecting and organizing evidence, it’s critical to understand that under FinCEN’s proposed rules, attorney-client communications and privileged internal investigation materials are off-limits and can sink your eligibility. The FinCEN rule expressly disqualifies information obtained in violation of legal privilege.
Again, we highly suggest retaining legal counsel and refraining from collecting additional evidence beyond what you already have. What you obtain “lawfully” or “unlawfully” can greatly determine your eligibility or award outcomes.
Step 5: Prepare and Submit Form TCR
FinCEN’s Office of the Whistleblower (OWB) is currently accepting tips. Once you submit, OWB will confirm receipt and send you a reference number to use whenever you communicate with the office or investigators about your submission.
Save this number. It identifies your submission going forward.
The FinCEN whistleblower program benefits those who file in a timely manner, so filing early not only protects your eligibility, but it is also easier for FinCEN to investigate recent events. Be as detailed as possible – FinCEN specifically asks for:
- The names and contact information of all individuals and entities involved — addresses, emails, social media, or other contact details
- A complete description of all relevant facts: the who, what, where, when, and why
- An explanation of how you learned about the alleged violation
- A description of any supporting evidence in your possession
- A description of any supporting evidence not in your possession, including where it can be found
- If applicable, the amount of money at issue, for example:
“Financial Institution 1 failed to file SARs for 100 suspicious transactions totaling $10 million,” or “U.S. Person 1 executed five payments totaling $5 million on behalf of a blocked individual, knowing they were sanctioned.”
If you choose to file anonymously, you may submit your tip on your own or through an attorney. Note that if your tip later leads to an award, claiming that award anonymously will require an attorney to file on your behalf — so many whistleblowers involve counsel from the start.
There is one important caveat to consider: the process above reflects how FinCEN accepts tips today. Once FinCEN finalizes its proposed rule, all initial submissions are expected to run through a standardized process.
Step 6: Understand What Happens After You File
Once you submit your tip to FinCEN’s Office of the Whistleblower (OWB), you’ll receive a reference number, which you or your attorney can use for all future communications regarding your submission. The OWB will review your submission, which may be routed to investigators at the Treasury, OFAC, or DOJ, depending on the type of information provided.
Whistleblowers should be prepared to fully cooperate with investigators and to wait patiently, as these cases are often complex and may take years to result in an enforcement action. Furthermore, no awards can be paid until FinCEN finalizes its rule (see FinCEN’s program updates for more information).
FinCEN is required to maintain the confidentiality of information that could reasonably be expected to reveal a whistleblower’s identity, subject to limited exceptions — such as disclosures required in a public proceeding or for law enforcement purposes. Filing through an attorney adds a further layer of identity protection.
Under the FinCEN Whistleblower Program, employers are prohibited from retaliating against whistleblowers. They may not terminate, demote, harass, or otherwise take consequential action against a whistleblower for engaging in a protected activity such as whistleblowing; whistleblowers who are victims of retaliation may be eligible for reinstatement, back pay, and other monetary damages.
One major drawback is that the program does not provide amnesty or immunity. Reporting a violation does not protect you from liability for your own conduct in any future investigation — another reason culpable insiders should retain counsel before coming forward.
How Long Does the Process Take?
There is no timeline for when FinCEN will publish the final rule, and thus, no awards have been paid to date. Efforts are currently underway by various NGOs and senators asking FinCEN to publish the final rule to support American and international whistleblowers who risk their jobs, careers, and safety by alerting the authorities to corrupt financial transactions through media reports, working with anti-corruption organizations, disclosing violations to their employer, or reporting directly to the government.
The first milestone in any FinCEN whistleblower timeline isn’t your investigation or your award determination — it’s the agency finishing its rulemaking, which remains pending.
This is why filing early matters.
The whistleblowers who have already submitted credible, well-documented tips — and those who do so now — are positioned at the front of the line for when the program becomes fully operational.
Being early doesn’t guarantee an award, but it ensures your information is on record, under review, and eligible to be acted upon the moment FinCEN’s framework is complete.
Common Mistakes to Avoid
Even a strong case can be undermined by avoidable errors. Several of the pitfalls below reflect requirements in FinCEN’s proposed rule, which may shift before finalization — but each points to a potential trap to avoid. The most common include:
Waiting too long to file. Your submission must be voluntary — which means it has to come before the government contacts you. If Treasury, DOJ, or another authority reaches you first, you may lose eligibility entirely, even if your information is strong. Filing early protects both your eligibility and the validity of your information.
Reporting to the wrong agency. FinCEN’s program covers violations of the BSA and OFAC-administered sanctions laws. If your information concerns fraud with no connection to those laws, FinCEN itself advises taking it to a more appropriate agency — for example, the DOJ under the False Claims Act. Filing a tip that falls outside FinCEN’s scope wastes time and won’t lead to an award through this program. Make sure your information has a genuine AML or sanctions nexus before you submit. An experienced whistleblower attorney can help if you’re uncertain.
Gathering privileged material. Information obtained in violation of legal privilege is disqualified. Attorney-client communications and privileged internal-investigation materials are off-limits. When in doubt, retain counsel before collecting anything.
Accessing documents you aren’t authorized to reach. Hacking, taking files you have no right to, or otherwise obtaining evidence unlawfully can expose you to legal liability and nullify your submission. Collect only what you have access to lawfully.
Submitting vague or unsupported tips. FinCEN seeks specifics — names, entities, accounts, dates, dollar amounts, and a clear “who, what, where, when, and why,” along with supporting evidence and where additional evidence can be found.
Talking about your findings. Telling friends or colleagues that you’ve reported — or are about to — can lead to retaliation or expose you. Keep the information that you have to yourself and let your attorney manage communications.
Ignoring the 120-day window for insiders. If you work in compliance, audit, or a fiduciary role, special timing rules may apply before you can file externally. Filing without accounting for this can create roadblocks. Know where you stand before you submit.
Submitting alone on an anonymous award. You can submit a tip anonymously on your own, but if your tip leads to an award and you want to claim it while protecting your identity, an attorney must file on your behalf. Whistleblowers who don’t plan for this can find their anonymity harder to preserve down the line, which can be a serious risk for whistleblowers in countries where exposure can threaten their safety.
Assuming any past conduct disqualifies you. Many potential whistleblowers stay silent because they were involved in the activity. But culpability doesn’t automatically bar an award — only a criminal conviction connected to the violation does. Involvement may reduce an award, not eliminate eligibility. Don’t self-disqualify. Instead, get professional legal advice from an experienced international whistleblower attorney.
Contact IWA FinCEN Whistleblower Attorneys Today!
Blowing the whistle on AML, BSA, or sanctions violations is a complex process, given the nascency of the FinCEN whistleblower program still taking shape — which makes experienced guidance more valuable. You should consider speaking with a whistleblower attorney if any of the following apply to you:
- You have information about potential money laundering, BSA violations, or sanctions evasion involving more than $1 million in potential penalties
- You want to file anonymously, or you may want to claim an award while protecting your identity
- You work in compliance, audit, legal, or a fiduciary role, where special timing rules and privilege issues come into play
- You were involved in the underlying conduct and are unsure whether you still qualify
- You are located outside the United States and face cross-border, data-protection, or retaliation concerns
- You’re worried about retaliation from your employer, or have already experienced it
An experienced international attorney, such as those at IWA, can help you determine whether your information qualifies, gather evidence lawfully and without waiving privilege, prepare a clear and compelling submission, preserve your anonymity, and position your tip across the FinCEN, OFAC, and DOJ enforcement landscape.
Early, well-prepared whistleblowers are positioned to be first in line when the program becomes fully operational. And our attorneys work on a contingency basis, which means you pay nothing unless we help you obtain an award.
