Political Quotes

“Certainly. The NDAA conference agreement provides for whistleblower rewards with a 30 percent maximum of certain monies collected in cases involving Bank Secrecy Act violations, but provides for no explicit minimum award requirement. The conferees agreed that updating the Bank Secrecy Act's whistleblower incentives and protections was necessary to protect individuals who provide original information which leads to any successful judicial or administrative Bank Secrecy Act action brought by the Secretary of the Treasury or Attorney General and results in monetary sanctions exceeding $1,000,000. To accomplish this and to avoid any direct spending complications, our intention is to authorize necessary resources and work with appropriators and the administration to ensure that necessary funding be made available on an ongoing basis, that is effectively offset by BSA penalties imposed in these cases. Such funding will enable the Secretary to provide, subject to available funds, substantial whistleblower awards based upon monetary penalties recovered in those whistleblower cases. It was always the intent of the conferees that these awards to individual whistleblowers are important and justified and that they be substantial, such that both a minimum and maximum percentage of such monetary sanction was contemplated.…”