The Financial Crimes Enforcement Network (FinCEN) has launched a dedicated portal to accept whistleblower tips on money laundering, fraud, and sanctions violations, the U.S. Treasury Department announced on Friday. 

Individuals in the United States who suspect that a financial institution, individual, or other entity is violating or conspiring to violate the Bank Secrecy Act or U.S. sanctions laws can submit a tip to the bureau through the website and become eligible for a monetary award if the information leads to penalties exceeding $1,000,000, FinCEN said. 

Whistleblowers are encouraged to submit their tips as soon as possible along with detailed and specific documentation to back up their claims. 

“At Treasury, we follow the money. We did it with the mafia, we have done it with the cartels, and we’re doing it with the Somali fraudsters,” said Secretary of the Treasury Scott Bessent in a statement. “We are going to offer whistleblower payments to anyone who wants to tell us the who, what, when, where, and how this fraud and money laundering has occurred.”

Read the Treasury Department announcement here

Read the FinCEN Whistleblower Bulletin here