Do I Need to Hire a BSA Attorney?
Learn Why You Should Talk to a Bank Secrecy Act (BSA) Whistleblower Attorney Before Moving Forward
Whistleblower Team Lead
Former DOJ Attorney
Whistleblower Team Lead
Whistleblower Team
Former U.S. Attorney and District Attorney
If you are considering reporting a violation of the Bank Secrecy Act (BSA) to the federal government, you should talk to an attorney before moving forward. Beyond serving as your legal representative if you decide to blow the whistle, your attorney can also help determine your eligibility for both federal whistleblower protections and whistleblower compensation.
Your attorney can help in many other ways as well. Reporting BSA violations to the federal government is not a straightforward process. You need to meet strict requirements, and you must be prepared to work closely with the appropriate federal authorities throughout the process.
What You Should Know About the BSA/AML Whistleblower Program
Our attorneys work with the federal government on behalf of BSA whistleblowers nationwide. If you are thinking about coming forward, we can explain everything you need to know to make informed decisions. We can evaluate the evidence you have in your possession; and, if you decide to come forward, we can assist with filing your complaint and seek your reward on your behalf if you become eligible to receive one.
Before you commit to serving as a BSA whistleblower, there is a lot you need to know. The following are just examples:
1. BSA Whistleblowers Can Report Violations By Financial Institutions and Other Entities
Whistleblowers can report an extremely wide range of violations of the Bank Secrecy Act (BSA). This includes violations committed by financial institutions and other entities. Some examples of the types of violations our attorneys help BSA whistleblowers report to the federal government include:
- Failure to file currency transaction reports (CTRs)
- Failure to file suspicious activity reports (SARs)
- Failure to maintain an effective anti-money laundering (AML) compliance program
- Facilitating transactions that support terrorist financing
- Sanctions violations and other threats to national security
- Violations of the other statutes discussed below
- Other forms of fraud, waste, and abuse (FWA) impacting investors, customers, or the government
When reporting these (and other) violations, BSA whistleblowers must come forward through the appropriate channels, and they must provide the federal government with sufficient evidence to demonstrate that an investigation is warranted. While BSA whistleblower complaints can lead to civil lawsuits or criminal prosecution depending on the allegations involved, the U.S. Department of Justice (DOJ) can only pursue appropriate enforcement action if it has the evidence it needs and this evidence is admissible in federal court.
2. BSA Whistleblowers Can Report Violations of Various Federal Statutes (Including the Trading with the Enemy Act (TWEA))
Along with reporting violations of the Bank Secrecy Act (BSA), in many cases BSA whistleblowers can (and should) report violations of other federal statutes as well. This includes (but is not limited to) violations of:
- Anti-Money Laundering Act (AMLA)
- Foreign Account Tax Compliance Act (FATCA)
- Trading With the Enemy Act (TWEA)
When prospective BSA whistleblowers also have information about AML violations or violations of the statutes listed above, it can be important to report these violations to the appropriate federal authorities as well. Once you hire an experienced BSA attorney to represent you, your attorney will be able to help you determine how best to proceed.
3. Filing a BSA Whistleblower Complaint Could Lead to Litigation in Federal Court
While many BSA whistleblower complaints will lead to a settlement between the targeted entity and the federal government, some lead to litigation in federal court. If the government does not settle your case, government attorneys at the DOJ may need to take your case to trial. Even though you are unlikely to play a major role in the litigation process (and the DOJ will be required to protect your identity), it is important to be prepared to provide assistance behind the scenes as needed. When you hire an attorney to represent you, your attorney will be able to communicate with the DOJ on your behalf.
4. You Can Engage a Law Firm to Represent You At No Out-of-Pocket Cost
If you are thinking about coming forward as a whistleblower under the Bank Secrecy Act (BSA), you can engage a law firm to represent you at no out-of-pocket cost. When we represent prospective BSA whistleblowers, these are just some of the services we provide to our clients:
- Assessing compliance with the eligibility criteria to serve as a BSA whistleblower
- Reviewing our clients’ evidence to assess its sufficiency for a whistleblower claim under the BSA
- Considering the applicable statute of limitations and other pertinent legal issues
- Advising regarding the steps involved in helping the federal government take legal action
- Advising regarding any potential risks for clients who may be implicated in the wrongdoing they are exposing
- Explaining the process of serving as a BSA whistleblower
- Assessing eligibility for a BSA/AML whistleblower award
This is just the start. If you decide to come forward as a BSA whistleblower, we will prepare and file your whistleblower claim with the appropriate federal agency, and then we will work directly with federal agents and prosecutors on your behalf throughout the process. We provide comprehensive legal representation for BSA whistleblowers—and, again, we do so at no out-of-pocket cost to our clients.
5. You Can Get Started with a Free Consultation
If you have questions about hiring a BSA attorney to help you blow the whistle, you can get started with a free consultation. Sitting down for a free consultation does not obligate you to move forward. From San Diego to New York City, we provide free consultations for prospective whistleblowers nationwide, and our attorneys will be more than happy to address all of your questions and concerns—whether they relate to hiring an attorney or the whistleblower process itself.
While it is important that you make an informed decision about serving as a BSA whistleblower, it is also important that you make your decision as efficiently as possible. There are multiple timing-related considerations involved in coming forward as a whistleblower under the Bank Secrecy Act (BSA). With this in mind, if you have any questions, we strongly encourage you to contact us for a free consultation today.
FAQs: Hiring an Attorney to Help You Serve as a BSA Whistleblower
Do I need to hire a BSA attorney to blow the whistle with the federal government?
No, you are not required to hire a BSA attorney to blow the whistle with the federal government. The government will accept a BSA whistleblower complaint from any person who comes forward with original information in a timely manner (and does so through the appropriate channels). With that said, there are several important ways an experienced BSA attorney will be able to help you, and hiring an attorney should not cost you anything out-of-pocket.
How do I report a Bank Secrecy Act (BSA) violation to the federal government?
The specific steps you need to take to report a Bank Secrecy Act (BSA) violation to the federal government depend on the nature of the violation you need to report. In many cases, BSA whistleblowers will need to come forward under the Financial Crime Enforcement Network’s (FinCEN) whistleblower program. However, BSA whistleblowers may need to work with the DOJ in some cases as well; and, in cases involving violations of multiple federal statutes, it may make sense to contact multiple agencies to maximize the chances of your complaint being accepted.
How do legal fees work in federal whistleblower cases?
Our attorneys represent all federal whistleblowers on a contingency-fee basis. This is similar to how legal fees work in personal injury cases—where attorneys who represent survivors and other victims only get paid if their clients’ cases are successful. If we help you secure a whistleblower award, our legal fees will be deducted from the amount we help you recover. Otherwise, you owe us nothing for our legal services.
What if my BSA whistleblower complaint doesn’t lead to a successful enforcement action?
When you come forward as a BSA whistleblower, there is no guarantee that your case will lead to a successful enforcement action. No matter how much information you provide, the outcome of your case will be beyond your control. While BSA whistleblowers are only entitled to monetary awards in successful cases, all BSA whistleblowers are entitled to confidentiality and protection against retaliation by their employers.
Is a BSA whistleblower attorney required to keep my information confidential?
Yes, when you hire a BSA whistleblower attorney to represent you, your attorney will keep all information you share (including your identity) strictly confidential. It is up to you to decide whether to come forward. If you decide not to come forward for any reason, your attorney may not disclose any information you provided with the federal government.
Schedule a Confidential Consultation With a BSA/AML Whistleblower Lawyer
If you would like more information about hiring a lawyer as a prospective BSA whistleblower, we invite you to schedule a confidential consultation at Oberheiden P.C. To speak with one of our senior BSA/AML whistleblower lawyers as soon as possible, call 888-680-1745 or contact us confidentially online today.
