Phillips & Cohen partner Erika Kelton talked to The Wall Street Journal about FinCEN’s anti-money laundering whistleblower program and the agency’s lack of enforcement resources.
“FinCEN’s enforcement staff is only a fraction of [those at] agencies like the SEC and [the Commodity Futures Trading Commission], both of which have had great success,” said Erika Kelton, a partner at law firm Phillips & Cohen LLP.
“Congress could help greatly by appropriating more funds for the FinCEN program,” she said. “If I was to prioritize the issues, I would rank the relative lack of resources over the lack of a website.”
Read the entire article, “FinCEN Pressured to Implement Anti-Money-Laundering, Sanctions Whistleblower Program,” The Wall Street Journal, February 5, 2024.