How do you submit a whistleblower tip to FinCEN?

If you have information about possible money laundering, sanctions evasion or another breach of the Bank Secrecy Act, you may be able to report it to the US Financial Crimes Enforcement Network (FinCEN) as a whistleblower. FinCEN is part of the US Department of the Treasury and administers the Bank Secrecy Act (BSA) whistleblower programme.

The whistleblower tip process is separate from a financial institution’s obligation to file a Suspicious Activity Report (SAR). A tip is information for the government; a SAR is a regulated institution’s confidential report to FinCEN. Sending a tip does not file a SAR, meet an institution’s SAR obligations or automatically qualify you for an award.

This guide explains the main FinCEN submission procedures, what documentation to prepare, how the award rules work and what to consider about retaliation. It is general information, not legal advice. If you are an employee with access to confidential or sensitive material, speak to a lawyer before gathering or sending documents.

What changed in the BSA whistleblower programme?

The Anti-Money Laundering Act of 2020 created a BSA whistleblower programme. Congress then strengthened it in the AML Whistleblower Improvement Act, enacted in December 2022. The changes addressed a key weakness in the original framework: awards had been discretionary, with no assured minimum, which gave potential whistleblowers less certainty about whether a successful case could result in compensation.

Under the revised law, the Secretary of the Treasury must make an award to an eligible whistleblower when the statutory conditions are met. Those conditions include providing original information that leads to a successful enforcement action resulting in more than US$1 million in monetary sanctions. Other eligibility rules and exclusions apply, and the government assesses each submission and enforcement outcome.

The 2022 changes also strengthened anti-retaliation protections and created a federal cause of action for covered whistleblowers. These are meaningful protections, but they do not remove the practical risks of reporting, guarantee anonymity in every circumstance or prevent an employer from taking action for reasons it says are unrelated to whistleblowing.

Who can submit a tip?

The programme is intended to receive information from people who know about possible violations of laws administered by FinCEN, including BSA requirements. Depending on the facts, a person may be an employee, contractor, former employee or someone with another source of relevant information.

Eligibility for an award is a separate question from whether FinCEN will accept or investigate a tip. The law contains exclusions and limits. For example, certain people involved in the underlying misconduct may be ineligible, and information already known to the government may not qualify as original information. The details matter, so do not assume that submitting a report automatically makes you eligible.

How to submit a whistleblower tip to FinCEN

Use FinCEN’s current whistleblower programme instructions and submission channel. Go to FinCEN’s official website and look for the whistleblower programme section, rather than relying on an old link, a third-party form or a general contact address. Follow the current directions for submitting information and any required certification or claimant details.

FinCEN’s whistleblower route is not the same as submitting a SAR through the BSA E-Filing system. That system is used by covered institutions and other filers to meet reporting requirements. A whistleblower should not try to submit an individual tip as though it were a SAR.

1. Check the current instructions. Confirm the official submission method and the information FinCEN asks for. Procedures can change, so verify them immediately before submitting.
2. Explain the suspected conduct. Set out what may have happened, who was involved, when and where it occurred, and why you believe it may breach a law or regulation within the programme’s scope.
3. Identify supporting material. List relevant records, systems, transactions, people who may have knowledge and any steps already taken to report the issue.
4. Be clear about what you know first-hand. Distinguish direct observations from information you heard from others or inferred from records. Give dates and context where possible.
5. Keep a record of your submission. Retain a copy of what you sent, the date, any confirmation and any reference number. Store it securely and avoid keeping copies on an employer’s system if doing so would create additional risk.

Do not exaggerate, speculate as though a suspicion were a proven fact, or omit facts that cut against your theory. A clear, candid account is more useful than a dramatic one. If you do not know an answer, say so.

What documentation should you prepare?

Good documentation helps investigators understand the tip and assess whether it can be corroborated. It does not mean collecting every document you can access. Focus on material that is relevant, lawfully available to you and necessary to explain the concern.

• A timeline of events, including dates, locations and the people or business units involved.
• Names of relevant entities, accounts, counterparties, products or transactions, where known.
• Descriptions of records that support your account, such as emails, policies, transaction records, audit findings or meeting notes.
• Details of how the information was obtained and whether it is complete, confidential or subject to legal restrictions.
• Information about earlier internal reports or external disclosures, including when and to whom they were made.

Do not access systems without permission, bypass security controls, alter records or take material you are not entitled to possess. Do not send customer data, privileged legal advice or other sensitive information casually. Privacy, confidentiality, employment and national security rules may apply. A lawyer can help you identify a lawful way to explain the issue and preserve relevant evidence.

Internal reporting channels and external submissions

Financial institutions commonly maintain internal compliance reporting channels, such as a manager, compliance officer, ethics hotline or board-level process. Reporting internally may help an organisation investigate and stop a problem. It can also create a contemporaneous record that you raised a concern.

An internal report is not the same as an external submission to FinCEN. Nor should you assume that reporting internally is a legal prerequisite to contacting the regulator. Whether to use an internal channel, report externally, or do both depends on the circumstances, the relevant law and your safety. For example, you may have concerns that the alleged misconduct involves the people who control the internal process, or that records could be destroyed.

Think through timing before acting. If you are considering an internal report, an external tip or both, keep a dated record of what you reported and to whom. If you fear retaliation, get advice before alerting people who may be implicated. Do not delay urgent steps to protect yourself or preserve evidence while trying to make the report perfect.

Route What it is for What it does not do Internal compliance channel Raises a concern within the organisation for review or investigation. It is not, by itself, a submission to FinCEN or a guarantee of protection from retaliation. FinCEN whistleblower submission Provides information to the government about suspected conduct within the programme’s scope. It is not a SAR and does not automatically secure an award or an investigation. SAR filing Allows a covered institution to meet applicable suspicious-activity reporting obligations. It is not an individual whistleblower claim or a substitute for the whistleblower process.

How do the award rules work?

The revised BSA lawyer-monthly.com programme provides an award of 10 to 30 per cent of the monetary sanctions collected in qualifying enforcement actions, subject to the law’s rules and the Treasury’s determination. The percentage is not calculated simply from the amount a company is ordered to pay if that amount is not collected. It is also not a percentage of losses, revenue or a whistleblower’s estimate of the case’s value.

The US$1 million trigger is important. The award requirement applies when the whistleblower’s original information leads to a successful enforcement action resulting in more than US$1 million in monetary sanctions. If the statutory conditions are satisfied, an award is mandatory; the amount within the 10 to 30 per cent range is not automatic. Treasury considers the circumstances and applies the programme’s rules.

That distinction matters. The law strengthens the prospect of an award in qualifying cases, but it does not promise a payment for every tip. A submission may lead to no action, may not produce sanctions above the threshold, or may fail other eligibility requirements. Enforcement can also take years, and the tipster may not control the timing or outcome.

Anti-retaliation protections and a federal cause of action

The BSA’s anti-retaliation provisions protect qualifying whistleblower activity from covered forms of employer retaliation. The 2022 changes provide a federal cause of action for a whistleblower who believes they were retaliated against for protected activity. Depending on the circumstances, statutory remedies may include reinstatement, double back pay with interest and litigation costs, including reasonable legal fees.

These protections have limits. The report and the person making it must fall within the law’s requirements, and a retaliation claim has procedural rules and deadlines. The BSA provides a 180-day period to bring a claim in federal district court after the alleged violation. A short limitation period makes it important to seek legal advice promptly if you experience dismissal, demotion, threats, exclusion or another adverse change after reporting.

Keep a careful record of events that could be relevant: performance reviews, changes to duties, messages, meeting notes and the dates of reports. Record facts, not conclusions. Do not assume that an employer’s action is unlawful solely because it followed a report; the legal question depends on the evidence and applicable protections.

Protecting your identity and managing risk

FinCEN’s programme has confidentiality provisions, but confidentiality should not be treated as a guarantee that no one will identify you. The facts you provide may point to you, and information may be subject to legal processes or disclosure rules. Discuss anonymity and confidentiality with a lawyer before submitting, especially if you are the only person with access to particular records or events.

Consider how and when you communicate, where you store your notes, and whether your employer monitors devices or accounts. Do not use a work device or account for personal legal advice. Avoid discussing the report broadly with colleagues, and do not share confidential documents with people who are not authorised to receive them.

A practical checklist before you submit

• Have you checked FinCEN’s official, current submission instructions?
• Have you separated facts you observed from assumptions or second-hand information?
• Have you created a concise timeline and identified relevant records?
• Have you avoided accessing, copying or disclosing material unlawfully?
• Have you considered whether to report internally, externally or both, and the timing risks?
• Have you considered legal advice about eligibility, confidentiality, retaliation and award rules?
• Have you kept a secure record of what you submitted and when?

A useful FinCEN tip is specific, supported and honest about its limits. The whistleblower programme can provide a route to report suspected financial crime outside an organisation’s internal channels, and the 2022 reforms strengthened the award and retaliation framework. But an award is not assured, and reporting can carry employment and personal risks. Careful documentation, a sound understanding of the submission process and timely legal advice can help you make an informed decision.