The Department of the Treasury’s Office of Foreign Assets Control (OFAC) administers the rules on when and how companies and individuals do business with sanctioned entities and controls. Violations of sanctions can lead to serious criminal and civil penalties, with OFAC working closely with other government agencies including the Department of Justice to ensure strict compliance with these laws.
The U.S. has many laws governing sanctions. A new program lets whistleblowers with information related to violations of:
- International Emergency Economic Powers Act (50 U.S.C. § 1701 et seq.)
- Trading with the Enemy Act (50 U.S.C. § 4305, 4312)
- And the Foreign Narcotics Kingpin Designation Act (21 U.S.C. § 1901 et seq.)
A whistleblower may submit information about any possible violation of these laws and any relevant regulations that has occurred, is ongoing, or is about to occur. These violations are frequently a company doing business with a sanctioned entity from a sanctioned country; a company letting sanctioned entities transact business using that company’s systems.
JEFFREY NEWMAN AND HIS FIRM REPRESENT WHISTLEBLOWERS UNDER THE SEC, FINCEN AND CFTC WHISTLEBLOWER PROGRAMS. IF YOU ARE AWARE OF ANY COMPANIES, BANKS OR PERSONS DOING BUSINESS WITH A SANCTIONED ENTITY YOU CAN REACH ATTORNEY NEWMAN AT JEFF@JEFFNEWMANLAW.COM OR AT 617-823-3217.
