A bill to provide for certain whistleblower incentives and protections.

Bill: 117-s-3316
Sponsor: full_name: Sen. Grassley, Chuck [R-IA]
Introduced: 2021-12-06
Policy area: Finance and Financial Sector
Subjects: Employment discrimination and employee rights

Evidence and witnesses

Fraud offenses and financial crimes

Government employee pay, benefits, personnel management

Government ethics and transparency, public corruption

Government information and archives

Government trust funds
Latest action: action_date: 2022-12-08
text: Held at the desk.

Summaries:
action_date: 2021-12-06
action_desc: Introduced in Senate
text: <p>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. </p> <p>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.</p>

action_date: 2022-12-07
action_desc: Passed Senate
text: <p><b>Anti-Money Laundering Whistleblower Improvement Act</b></p> <p>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. </p> <p>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.</p>

tv_txt: II 117th CONGRESS 1st Session S. 3316 IN THE SENATE OF THE UNITED STATES December 6, 2021 Mr. Grassley (for himself and Mr. Warnock ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To provide for certain whistleblower incentives and protections.

1. Whistleblower incentives and protections 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 Any amount paid under paragraph (1) shall be paid from the Fund established under paragraph (3). (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 unless the balance of the Fund at the time the monetary judgement 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. (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. .

tv_txt: 117th CONGRESS 2d Session S. 3316 IN THE SENATE OF THE UNITED STATES AN ACT To provide for certain whistleblower incentives and protections.

1. Short title This Act may be cited as the Anti-Money Laundering Whistleblower Improvement Act . 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. Secretary