Political Quotes

“Mr. President, before joining with my colleagues in an important colloquy, concerning the Anti-Money Laundering Act of 2020, I want to applaud Senator Grassley's tireless efforts that spanned years of bipartisan work to establish the first whistleblower reward program at the Department of the Treasury's Financial Crimes Enforcement Network. Mr. Grassley. Mr. President, I would like to thank Chairman Crapo and Ranking Member Brown for their work on the Anti-Money Laundering Act of 2020 division contained in this year's NDAA conference report, including the important new whistleblower protections provided in the measure. These whistleblower protections that all three of us agreed upon, were modelled after successful programs that were created through the Dodd Frank Act for the Securities and Exchange Commission and the Commodity's and Exchange Commission. One key feature that makes these programs successful is that whistleblowers are guaranteed a minimum of 10 percent in awards for qualifying disclosures. These rewards cost taxpayers nothing because they are paid from fines and other monies collected as a result of the whistleblower's disclosures. To ensure whistleblowers always receive the money owed, both the SEC and CFTC, as well our original amendment to the NDAA, created a special fund that would be filled by the fines collected and then used to pay whistleblower awards. With that, I will be happy to begin the colloquy.…”