“American businesses play a vital role in defending our national security, because they are gatekeepers for sensitive technologies and key participants in the financial system,” said Assistant Attorney General Matthew Olsen of the Justice Department’s National Security Division. “Responsible companies that come forward as soon as they learn of potential sanctions and export control violations will benefit from the protections of these self-disclosure policies.”
Additionally, the compliance note, issued July 26, highlights the Financial Crime Enforcement Network (FinCEN)’s Anti-Money Laundering and Sanctions Whistleblower Program, which incentivizes individuals in the United States and abroad to provide information to the government about violations of U.S. trade and economic sanctions, in addition to violations of the Bank Secrecy Act.
“As adversaries leverage increasingly sophisticated efforts to evade international sanctions and export controls, it’s more important than ever to maintain open communication between the public and private sectors,” said OFAC Director Andrea Gacki. “By taking advantage of our voluntary self-disclosure policy, companies can both help themselves and help us protect our financial system.”
In their compliance note, both BIS and OFAC stressed that the “existence, nature, and adequacy of a company’s compliance program” is, itself, considered a factor both at the time the violations occurred, and during settlement negotiations. The BIS added in the compliance note that this includes the compliance program’s “success at self-identifying and rectifying compliance gaps.”
The compliance note marks the second collective effort by these three agencies to inform the private sector about enforcement trends and provide guidance to the business community on compliance with U.S. sanctions and export laws. In March 2023, these three agencies issued their first ever joint compliance note highlighting common tactics used to evade Russia-related sanctions and export controls, and to inform the private sector of warning signs to watch for. The agencies further said they will issue more joint compliance advisories on an ongoing basis. 
Jaclyn Jaeger is a contributing editor at Compliance Chief 360° and a freelance business writer based in Manchester, New Hampshire.