OFAC: Launches Online Portal for Voluntary Self Disclosure Submissions

OFAC: Launches Online Portal for Voluntary Self Disclosure Submissions

The Office of Foreign Assets Control has introduced a new online Voluntary Self Disclosure Portal designed to streamline the submission of potential violations under sanctions programs it administers. The secure platform replaces prior submission methods with a centralized digital system that allows individuals and organizations to file disclosures more efficiently and track communications throughout the review process.

According to the United States Department of the Treasury, the portal is intended to improve transparency, speed acknowledgment of submissions, and create a more user friendly experience for parties seeking to report potential compliance issues. OFAC is encouraging all prospective filers to use the new system going forward.

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