International Money Laundering Whistleblower Lawyer Helps Anonymous Whistleblowers Claim Large Rewards for Reporting Illicit Foreign Money Investment Schemes by International Money Laundering Whistleblower Reward Lawyer Jason Coomer
The Unites States offers large financial rewards to anonymous whistleblowers who report illicit foreign money investment money laundering schemes. More specifically, the SEC and CFTC pay money to anonymous whistleblowers who provide original information that results in an enforcement action. These whistleblower reward laws target brokers, wealth managers, banks, futures commission merchants, introducing brokers, traders, and other financial services firms who launder money into the US financial markets. It is estimated that over $1 Trillion is laundered globally each year. Further, many corrupt foreign officials and other criminals seek to launder a large portion of this money into the safety of US financial markets. This laundered money dilutes the wealth of US citizens and harms US investors as well as the financial markets. These reward laws target illicit foreign money investment schemes that violate Anti-Money Laundering Rules, the Bank Secrecy Act, and Money Laundering Control Act. Because these laws base the amount of financial rewards on the amount of money recovered by the government, whistleblowers who expose large schemes can earn large rewards. For this reason whistleblowers (international and domestic) who have original knowledge of large money laundering schemes are encouraged to report illegal conduct. This illegal conduct can be reported anonymously through a lawyer based in the United States. Further, financial professionals and lawyers throughout the world are encouraged to work with an international money laundering whistleblower lawyer in the United States to anonymously report illegal schemes and collect rewards. For more information on this topic, please feel free to contact International Money Laundering Whistleblower Reward Lawyer Jason S. Coomer.
Below are some helpful FAQs from an International Money Laundering Whistleblower Reward Lawyer. The FAQs include general information regarding anonymous reporting of illicit foreign money investment schemes and other illegal money laundering conduct to the SEC and CFTC. Specific legal advice is case specific:
Q1: What is an Illicit Foreign Money Investment Scheme?A1: Corrupt foreign officials and criminals throughout the world often want to move their illicit money into a safe haven. The US financial markets are typically that safe haven. As such, criminals and corrupt leaders from around the world seek to illegally launder illicit cash into the United State. Many of these corrupt officials and criminal find banks, brokers, and traders to help them launder their illicit money into the US financial markets.
Q2: Who can expose an Illicit Foreign Money Investment Scheme and earn a financial reward?A2: Anyone with original knowledge of an illicit foreign money scheme can anonymously report the illegal scheme through a US whistleblower reward lawyer. If the anonymous information or tip results in an enforcement action, the anonymous whistleblower can claim a reward. The reward is from 10% to 30% of the money recovered by the SEC, CFTC, or agencies working with them from the tip.
Q3: Who usually has original information of illicit foreign money investment schemes, reports the illegal schemes, and claims financial rewards?A3: Typically, financial professionals, auditors, brokers, bankers, and other professionals have original information regarding illicit foreign money investment schemes. Further, these professionals typically report these illegal schemes anonymously through a lawyer and receive rewards without any bank, broker, or other multinational corporation learning their name.
Q4: Who are the targets of International Money Laundering Whistleblower Reward Laws and Enforcement Actions?A4: Both the SEC and CFTC typically fine large financial corporations who help corrupt foreign officials and other criminals launder money. In other words, the brokers, traders, and banks that violate US laws allowing illicit foreign money into the United States typically are the target of enforcement actions. Further, assets in the United States owed by corrupt foreign officials and other criminals are also often seized.
Money Laundering Whistleblower Lawyer Helps Financial Professionals and Other Persons With Original Evidence of Money Laundering Properly and Confidentially Report Money Laundering and Obtain Large Whistleblower Rewards
Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money. The money laundering process can be broken down into three stages. First, the illegal activity that garners the money places it in the hands of a launderer. Second, the launderer passes the money through a complex scheme of transactions to obscure who initially received the money from the criminal enterprise. Third, the scheme returns the money to the launderer in an obscure and indirect way. To prevent money laundering several laws have been put in place to detect and prevent money laundering. When financial institutions, large corporations, and brokers or dealers violate these Anti-Money Laundering laws, they can often be held liable for allowing or encouraging money laundering.
The Bank Secrecy Act and Required Anti-Money Laundering Programs for Financial Institutions
The Bank Secrecy Act (BSA) (31 USC 5318(h)) requires financial institutions to establish Anti-Money Laundering (AML Programs). FCMs are defined as financial institutions in the BSA. IBs have been interpreted by FinCEN to fit within the term "brokers or dealers in commodities" in the financial institution definition and thus also must establish AML Programs. At a minimum, an AML Program must be in writing and must include: 1. Development and maintenance of written policies and procedures, and supervisory controls; 2. Reasonably designed to ensure compliance with the BSA and assist a firm in detecting and reporting suspicious activity; 3. Designation of a compliance officer; 4. Education and ongoing employee training of appropriate personnel; and 5. Independent review to monitor and ensure AML program is adequately functioning.
The National Futures Association (NFA) adopted Rule 2-9(c) and an accompanying Interpretive Notice that sets forth AML Program requirements applicable to its FCM and IB members. The importance of strong BSA/AML compliance was highlighted in a FinCEN advisory, issued on August 11, 2014, on promoting a culture of compliance issued by financial institutions. The advisory did not change any existing expectations or obligations under BSA/AML requirements, and highlights the importance of strong compliance for senior management, leadership and owners of all financial institutions subject to FinCEN's regulations.
Money Laundering Schemes Can Be The Basis of CFTC Bounty Actions That Can Pay Out From 10% to 30% of Any Recovery Made By The CFTC or SEC
CFTC bounty claims like SEC bounty claims must be brought voluntarily under the Bounty Programs by one or more individuals. The whistleblower or whistleblowers must be a natural person or natural persons, companies or other entity is not eligible to be financial fraud bounty whistleblowers. Successful CFTC and SEC violation bounty whistleblowers can collect financial rewards for whistleblower bounty actions that result in the imposition of monetary sanctions of greater than $1 million dollars. Through CFTC and SEC Whistleblower Bounty Actions the CFTC and SEC will award between ten percent and thirty percent of the money collected to a qualified whistleblower who voluntarily provides the CFTC and SEC with original information about a violation of the securities laws that leads to a successful enforcement of an action brought by the CFTC and SEC that results in monetary sanctions exceeding $1,000,000.00.
CFTC and SEC Bounty Actions Have Whistleblower Protections That Allow Whistleblowers to Remain Anonymous While Exposing Illegal Conduct and Collecting Financial Rewards Through a Lawyer
In an effort to expose fraud and encourage persons with knowledge of significant fraudulent actions, several International Whistleblower Employee Protection Laws have been passed and strengthened. These laws include new International Bounty Action Laws and IRS Whistleblower Reward Laws that allow international financial services employee whistleblower identities to remain anonymous or confidential during the filing of whistleblower actions. The employee whistleblowers can protect their identity and career by working through a whistleblower lawyer. These Whistleblower protections allow bank employees to expose illegal conduct and collect financial rewards through a lawyer licenesed in the United States
Other Whistleblower Reward Laws Also Have Strong Whistleblower Protections For Professionals
The Federal False Claims Act has strong employee whistleblower protection provisions that protect Qui Tam False Claims Act employee whistleblowers from retaliatory actions by employers and violators of the Federal False Claims Act. Under Section 3730(h) of the False Claims Act, "[a]ny employee who is discharged, demoted, suspended, threatened, harassed, or in any other manner discriminated against in the terms and conditions of employment by his or her employer because of lawful acts done by the employee on behalf of the employee or others in furtherance of an action under this section, including investigation for, initiation of, testimony for, or assistance in an action filed or to be filed under this section, shall be entitled to all relief necessary to make the employee whole. Such relief shall include reinstatement with the same seniority status such employee would have had but for the discrimination, 2 times the amount of back pay, interest on the back pay, and compensation for any special damages sustained as a result of the discrimination, including litigation costs and reasonable attorneys' fees. An employee may bring an action in the appropriate district court of the United States for the relief provided in this subsection."
As such, any employer that discharges, demotes, harasses, or otherwise discriminates against a Federal False Claims Act Whistleblower because of lawful acts by the employee in furtherance of an action under the Federal False Claims Act can be liable to that Federal False Claims Act whistleblower for reinstatement, double back pay, and compensation for any special damages including litigation costs and reasonable attorneys' fees.
Financial Services Employees Commonly Have Specialized Original Information that Can Be the Basis of Money Laundering Bounty Actions
International Money Laundering Bounty Action Lawyer Jason S. Coomer helps international bank employee whistleblowers and international whistleblowers expose illegal conduct. This illegal conduct includes violations of Anti-Money Laundering Rules, Bank Secrecy Act, and Money Laundering Control Act. He also review violations of the Commodity Exchange Act, Sercurities Exchange Act, and Foreign Corrupt Practions Act. Further, he confidentially reviews potential anonymous bounty actions and other potential whistleblower reward lawsuits. If you have original evidence of money laundering or other significant illegal activities, please feel free to contact International Anti-Money Laundering Bank Employee Bounty Action Lawyer, Jason S. Coomer.
Other Types of Illegal Activity Can Also Be The Basis of Large CFTC and SEC Bounty Actions
Bank Fraud, Investment Fraud, Securities Fraud, Derivatives Fraud, Accounting Fraud, and Insider Trading are forms of financial fraud that can result in qui tam lawsuits, shareholder lawsuits, bounty actions, class actions, and several other types of fraud litigation. Bank employees including chief financial officers, vice presidents, accountant managers, financial analysts, bank managers, bank assistant managers, loan officers, and other bank officers with original information of significant bank fraud, loan fraud, investment fraud, retirement fund fraud, securities fraud, bank account fraud, derivatives fraud, and financial fraud by a bank may be able to collect a large reward through several whistleblower laws. A key to obtaining a large whistleblower award is to make sure that as the employee whistleblower you are the first to file with sufficient evidence of significant fraud.
Illegal Bribery Schemes, Illegal Money Laundering Schemes, and Providing Illegal Bank Loans With Knowledge of Significant Illegal Conduct Can Be The Basis of SEC and CFTC Bounty Actions
Banks that pay illegal kickbacks and bribes to government officials and former government officials in exchange for large contracts, investments, loans, and benefits can be brought to justice and made to pay large penalties under the Foreign Corrupt Practices Act. The whistleblowers that bring these corporations to justice may be able to collect large economic rewards under the Securities Exchange Act (SEC Whistleblower Bounty Actions) and the Commodity Exchange Act (CFTC Whisteblower Bounty Actions).
The Bank Illegal Bribe Whistleblower or Bank Executive Illegal Kickback Whistleblower may be entitled to not only the amount of the illegal bribe or kickback, but the benefit of the illegal bribe or kickback. In cases where $100,000.00 bribe is made to obtain a $100 million pipeline, the Bank Executive Illegal Bribe Whistleblower or Financial Illegal Kickback Whistleblower may be entitled to 10 to 30% of the $100,000,000.00 and the $100,000.00 translating into a $10 million to $30 million award.
International Whistleblower Lawyer Works With International Professionals and Other Lawyers Throughout The World
As an International Whistleblower Reward Lawyer, Jason S. Coomer commonly works with other lawyers throughout the world to expose illegal conduct and collect financial rewards for anonymous whistleblowers. If you are the original source with special knowledge of significanl illegal conduct and are interested in learning more about a potential case or joint representation, please feel free to contact International Whistleblower Reward Lawyer and Bounty Action Lawyer, Jason S. Coomer.