A bill to provide for certain whistleblower incentives and protections.
Bill: S.3316 | Sponsor: Sen. Grassley, Chuck (R-IA)
Policy area: Finance and Financial Sector

Summary:
Anti-Money Laundering Whistleblower Improvement Act
This bill revises the management of whistleblower incentive awards for individuals providing original information relating to illegal monetary transactions, money laundering, or other financial crimes. Specifically, the bill establishes a minimum award for whistleblowers of not less than 10 percent of the collected monetary sanctions.
Further, the bill establishes the Financial Integrity Fund for the payment of such awards. The fund is comprised of collected monetary sanctions and investments of the fund.

To provide for certain whistleblower incentives and protections.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Anti-Money Laundering Whistleblower 
Improvement Act''.

SEC. 2. WHISTLEBLOWER INCENTIVES AND PROTECTIONS.

    (a) In General.--Section 5323 of title 31, United States Code, as 
amended by section 6314 of the Anti-Money Laundering Act of 2020 
(division F of Public Law 116-283) is amended by striking subsection 
(b) and inserting the following:
    ``(b) Awards.--
            ``(1) In general.--In any covered judicial or 
        administrative action, or related action, the Secretary, under 
        regulations prescribed by the Secretary, in consultation with 
        the Attorney General and subject to subsection (c), shall pay 
        an award or awards to 1 or more whistleblowers who voluntarily 
        provided original information to the employer of the 
        individual, the Secretary, or the Attorney General, as 
        applicable, that led to the successful enforcement of the 
        covered judicial or administrative action, or related action, 
        in an aggregate amount equal to--
                    ``(A) not less than 10 percent, in total, of what 
                has been collected of the monetary sanctions imposed in 
                the action or related actions; and
                    ``(B) not more than 30 percent, in total, of what 
                has been collected of the monetary sanctions imposed in 
                the action or related actions.
            ``(2) Payment of awards.--
                    ``(A) In general.--Any amount paid under paragraph 
                (1) shall be paid from the Fund established under 
                paragraph (3).
                    ``(B) Related actions.--The Secretary may pay 
                awards less than the amount described in paragraph 
                (1)(A) for related actions in which a whistleblower may 
                be paid by another whistleblower award program.
            ``(3) Source of awards.--
                    ``(A) In general.--There shall be established in 
                the Treasury of the United States a revolving fund to 
                be known as the Financial Integrity Fund (referred to 
                in this subsection as the `Fund').
                    ``(B) Use of fund.--The Fund shall be available to 
                the Secretary, without further appropriation or fiscal 
                year limitations, only for the payment of awards to 
                whistleblowers as provided in subsection (b).
                    ``(C) Restrictions on use of fund.--The Fund shall 
                not be available to pay any personnel or administrative 
                expenses.
            ``(4) Deposits and credits.--
                    ``(A) In general.--There shall be deposited into or 
                credited to the Fund an amount equal to--
                            ``(i) any monetary sanction collected by 
                        the Secretary or Attorney General in any 
                        judicial or administrative action under this 
                        title, chapter 35 or section 4305 or 4312 of 
                        title 50, or the Foreign Narcotics Kingpin 
                        Designation Act (21 U.S.C. 1901 et seq.), 
                        unless the balance of the Fund at the time the 
                        monetary sanction is collected exceeds 
                        $300,000,000; and
                            ``(ii) all income from investments made 
                        under paragraph (5).
                    ``(B) Additional amounts.--If the amounts deposited 
                into or credited to the Fund under subparagraph (A) are 
                not sufficient to satisfy an award made under this 
                subsection, there shall be deposited into or credited 
                to the Fund an amount equal to the unsatisfied portion 
                of the award from any monetary sanction collected by 
                the Secretary of the Treasury or Attorney General in 
                the covered judicial or administrative action on which 
                the award is based.
                    ``(C) Exception.--No amounts to be deposited or 
                transferred into the United States Victims of State 
                Sponsored Terrorism Fund pursuant to the Justice for 
                United States Victims of State Sponsored Terrorism Act 
                (34 U.S.C. 20144) or the Crime Victims Fund pursuant 
                section 1402 of the Victims of Crime Act of 1984 (34 
                U.S.C. 20101) shall be deposited into or credited to 
                the Fund.
            ``(5) Investments.--
                    ``(A) Amounts in fund may be invested.--The 
                Secretary of the Treasury may invest the portion of the 
                Fund that is not required to meet the current needs of 
                the Fund.
                    ``(B) Eligible investments.--Investments shall be 
                made by the Secretary of the Treasury in obligations of 
                the United States or obligations that are guaranteed as 
                to principal and interest by the United States, with 
                maturities suitable to the needs of the Fund as 
                determined by the Secretary.
                    ``(C) Interest and proceeds credited.--The interest 
                on, and the proceeds from the sale or redemption of, 
                any obligations held in the Fund shall be credited to, 
                and form a part of, the Fund.''.
    (b) Technical and Conforming Amendments.--Section 5323 of title 31, 
United States Code, is amended--
            (1) in subsection (a)--
                    (A) in paragraphs (1) and (5), by striking ``this 
                subchapter or subchapter III'' each place the term 
                appears and inserting ``this subchapter, chapter 35 or 
                section 4305 or 4312 of title 50, the Foreign Narcotics 
                Kingpin Designation Act (21 U.S.C. 1901 et seq.), or 
                .), and for conspiracies to violate the aforementioned 
                provisions''; and
                    (B) in paragraph (4)--
                            (i) by inserting ``covered'' after 
                        ``respect to any'';
                            (ii) by striking ``under this subchapter or 
                        subchapter III''; and
                            (iii) by striking ``action by the Secretary 
                        or the Attorney General'' and inserting 
                        ``covered action'';
            (2) in subsection (c)(1)(B)(iii)--
                    (A) by striking ``subchapter and subchapter III'' 
                and inserting ``this subchapter, chapter 35 or section 
                4305 or 4312 of title 50, and the Foreign Narcotics 
                Kingpin Designation Act (21 U.S.C. 1901 et seq.)''; and
                    (B) by striking ``either such subchapter'' and 
                inserting ``the covered judicial or administrative 
                action''; and
            (3) in subsection (g)(4)(D)(i), by inserting ``chapter 35 
        or section 4305 or 4312 of title 50, or the Foreign Narcotics 
        Kingpin Designation Act (21 U.S.C. 1901 et seq.),'' after 
        ``subchapter,''.

            Passed the Senate December 7, 2022.

            Attest:

                                                             Secretary.
117th CONGRESS

  2d Session

                                S. 3316

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