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Financial institutions that mishandle internal warnings of flaws in their compliance programs could run afoul of the Anti-Money Laundering Act, the former head of the U.S. Securities and Exchange Commission's whistleblower office told ACAMS moneylaundering.com. The Financial Crimes Enforcement Network's year-old, AML whistleblower program is largely modeled on the SEC's own program, which has generated more than 64,000 tips, roughly $5 billion in penalties and at least $1.3 billion in payouts since launching in 2012. Both programs aim to promote stronger enforcement while shielding whistleblowers from retaliation. But the SEC's protections come into force at a much later point than...