OFAC Sanctions Whistleblower Attorneys

Reporting a Sanctions Violation Can Qualify for a Whistleblower Reward

In the Anti-Money Laundering Whistleblower Improvement Act of 2022, Congress expanded the Anti-Money Laundering Act (AMLA) to require Treasury to pay an award to a whistleblower for a voluntary disclosure of original information that results in the collection of sanctions above $1 million for a violation of:

the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.);
sections 5 and 12 of the Trading With the Enemy Act (50 U.S.C. 4305; 4312); or
the Foreign Narcotics Kingpin Designation Act (21 U.S.C. 1901 et seq.).

A whistleblower who discovers sanctions evasion can report anonymously (if represented by an attorney) and can obtain an award of 10% to 30% of the collected monetary sanctions.

Click here for a Whistleblower Lawyer’s Guide to the Anti-Money Laundering Whistleblower Program.

For more information about whistleblower rewards and whistleblower protections, contact leading whistleblower rewards law firm Zuckerman Law at 202-930-5901 or 202-262-8959 or email us at [email protected].

Reporting a Violation of U.S. Economic Sanctions Can Potentially Qualify for an SEC Whistleblower Award

Violating U.S. economic sanctions can also violate disclosure duties under federal securities laws. For example, Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 requires SEC-registered issuers to disclose all Iran-related activities covered by sanctions restrictions. The SEC’s Office of Global Security Risk (OSGC) monitors issuers’ disclosures related to business activities involving US-sanctioned counties.

Recent Office of Foreign Assets Control penalties for sanctions violations have been substantial. In March 2017, Zhongxing Telecommunications Equipment Corporation paid $100,871,266 in a settlement agreement for 251 apparent violations of the Iranian Transactions and Sanctions Regulations. ZTE used third-party companies to surreptitiously supply Iran with a substantial volume of U.S.-origin goods, including controlled goods appearing on the Commerce Control List.

Guidance on OFAC’s Enforcement and Compliance Policies

Qualifying for an SEC Whistleblower Award

Experienced, Top-Rated SEC Whistleblower Lawyers

For more information about whistleblower rewards and bounties, contact the experienced SEC whistleblower lawyers at Zuckerman Law at 202-262-8959. See our column in Forbes: One Billion Reasons Why The SEC Whistleblower-Reward Program Is Effective.

Experienced and effective SEC whistleblower attorneys can provide critical guidance and effective advocacy to whistleblowers to increase the likelihood that they get the maximum award from the SEC Whistleblower Program.

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Whistleblower law firm Zuckerman Law has substantial experience investigating securities fraud schemes and preparing effective submissions to the SEC concerning a wide range of federal securities violations, including:

To learn more about the SEC Whistleblower Program, download Zuckerman Law’s eBook: SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award: