What Is It?

OFAC fraud and violations involve illegal financial transactions and activities that violate U.S. sanctions laws and embargoes, typically aimed at avoiding legal restrictions on certain foreign entities or individuals. The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) enforces these regulations, targeting money laundering, terrorism financing, and other illegal financial activities. Whistleblowers who report violations can play a crucial role in protecting national security and maintaining financial integrity.

OFAC fraud involves actions that violate U.S. sanctions laws, which are designed to restrict financial transactions with certain foreign entities, individuals, or countries due to national security concerns, terrorism, and criminal activities.

Organizations Involved

Entities across industries such as finance, trade, and energy may commit violations. For example, a company might engage in business with a sanctioned individual or country, violating export restrictions.

Reportable Activities

Key violations include:

• Engaging in transactions with sanctioned individuals or entities
• Providing financial services to blocked parties
• Misrepresenting ownership or control of sanctioned entities
• Violating trade restrictions or embargoes

To report OFAC violations, you can submit a whistleblower case directly to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). They provide a confidential process for OFAC whistleblowers to report potential sanctions violations. Using whistleblower attorney services to navigate this complex process ensures the protection of your identity and maximizes the chances of a successful claim. A whistleblower law firm can help you gather evidence, submit reports, and protect your rights under whistleblower laws.

Read about Government programs and laws governing OFAC fraud here