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OFAC to Leverage FinCEN Whistleblower Incentive Program for Sanctions Violations Enforcement
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has signaled a significant shift in its enforcement strategy by referencing the Financial Crimes Enforcement Network's (FinCEN) whistleblower program in two recent enforcement actions. This move indicates a growing reliance on whistleblowers to unearth potential sanctions violations, highlighting the escalating stakes for companies under U.S. economic sanctions regulations.