Philip M. Berkowitz The Anti-Money Laundering Act Expands Whistleblower Protections
The recently-enacted Anti-Money Laundering Act significantly increases the potential value of awards for whistleblowers under the Bank Secrecy Act. The challenge for a financial services employer is to establish that discipline against an employee in a compliance role is supported by evidence that the decision was based on the employee's incompetence or other inappropriate behavior, and that any whistleblowing activity he or she engaged in was not a consideration. Philip M. Berkowitz explores the issues in this edition of his Employment Issues column.
March 10, 2021 at 12:45 PM
9 minute read
Compliance personnel increasingly bring retaliation and whistleblower claims against their employers. Their job, after all, is to help their employers comply with legal and regulatory obligations. If they are disciplined for poor job performance, however, they may claim that the discipline is based on their having brought regulatory violations to their employers' attention, and not their own job performance problems.
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