The Office of Foreign Assets Control (OFAC) is a division of the U.S. Department of the Treasury responsible for enforcing economic and trade sanctions against foreign countries, entities, and individuals. These sanctions can be implemented in response to various reasons, such as human rights violations, terrorism, or proliferation of weapons of mass destruction.

OFAC and Whistleblowing

Individuals working within financial institutions, businesses, or government agencies may have knowledge of transactions that violate OFAC regulations. They can report these violations to the OFAC or other relevant authorities.

Whistleblowers provide valuable evidence to support investigations into OFAC violations. This evidence can include documents, emails, or other information that demonstrates the illegal nature of the transactions.

By exposing sanctions violations, whistleblowers can help to protect national security and prevent the flow of funds to entities that pose a threat to the United States.

OFAC encourages anyone with information of violations to report their concerns voluntarily. However, this comes with great risks, as it exposes those reporting concerns to retaliation. Under 31 U.S.C. § 5323, whistleblowers may submit tips anonymously to protect themselves from such retaliation; but they must be represented by an attorney.

Whether a whistleblower needs to remain anonymous will ultimately depend on the information they possess. Given the complexity of such cases, and to increase the chances of receiving the highest award amount possible, we highly recommend seeking legal representation.