FinCEN announced a new whistleblower program on Friday, modeled after the successful IRS and SEC programs, offering monetary awards to individuals who provide original information leading to successful enforcement actions for sanctions violations, money laundering, or offshore tax evasion.
Awards range from 10% to 30% of sanctions and penalties collected, provided the total recovery exceeds $1 million. There is no cap on awards. Whistleblowers may remain anonymous through counsel. The program also includes anti-retaliation protections for employees of financial institutions who report misconduct.
FinCEN Director Andrea Gacki said the program is expected to generate 'hundreds of high-quality leads' annually. 'Offshore secrecy depends on silence. We are now putting a price on breaking that silence,' Gacki said.
Similar to SEC program
The SEC's whistleblower program has awarded over $2.5 billion since 2011, leading to $6 billion in sanctions. FinCEN expects its program to be similarly productive, particularly in cases involving Russian oligarchs using shell companies and cryptocurrency mixers.
Critics worry the program could overwhelm FinCEN's resources. The agency received a $150 million budget increase in the 2026 appropriations bill to hire 400 additional analysts and investigators.
Offshore secrecy depends on silence. We are now putting a price on breaking that silence. If you see sanctions evasion, we want to hear from you.
The program opens for submissions on July 1, 2026. FinCEN has published detailed guidance on its website, including a secure submission portal and sample disclosure forms.
