The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has created an online voluntary self-disclosure system to encourage more people to self-report possible sanctions violations.
According to OFAC’s portal pages, voluntarily self-disclosing a violation can lead to a 50 percent cut in the base amount of a civil penalty. OFAC, which enforces economic and trade sanctions, has ramped up sanctions targets under the Trump administration.
