What monetary awards are available to whistleblowers under the Bank Secrecy Act?

The Bank Secrecy Act (BSA) authorizes the Treasury Secretary to pay whistleblowers an award of 10% to 30% of the monetary sanctions imposed in government enforcement actions related to the whistleblowers’ disclosure.

Only certain types of monetary sanctions can result in a whistleblower award. The BSA permits awards from criminal or civil penalties, disgorgement, and interest, but not forfeiture, restitution, or victim compensation. The type of relief the government seeks is thus critical to whether a whistleblower award will be paid.

The Treasury Secretary has discretion to determine the precise amount that a whistleblower receives. The BSA requires the Secretary to consider, among other factors, the significance of the whistleblower’s information, the assistance the whistleblower provided, and the Treasury Department’s interest in deterring future violations by providing whistleblowers incentives to come forward.

Payment of whistleblower awards depends on whether sufficient funds are available in the Financial Integrity Fund or collected from the relevant enforcement action. The Financial Integrity Fund receives a portion of penalties imposed under the BSA and other statutes, up to a maximum of $300 million, and is used only for payment of awards.

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