Experienced New York OFAC Compliance Attorneys
One payment to the wrong party can lead to a federal inquiry. If your company or financial institution does business across borders, sanctions rules may affect daily decisions. An Office of Foreign Assets Control (OFAC) compliance attorney can help you address these issues.
At Melito & Adolfsen P.C., our team of OFAC compliance attorneys work with companies and financial institutions on sanctions compliance, licensing and enforcement matters. For more than 10 years, we have built an international practice serving clients in Europe and the Middle East. We also handle Foreign Corrupt Practices Act investigations and compliance matters and defend foreign nationals accused of violating U.S. law. When a new issue reaches us, we take a practical approach to finding a legal solution.
What OFAC Is And Which Economic Sanctions It Administers
OFAC is part of the U.S. Department of the Treasury. It administers and enforces economic sanctions tied to U.S. foreign policy and national security. These sanctions generally fall into two groups:
- Country-based programs: Restrict transactions and dealings involving certain countries or regions
- List-based programs: Restrict transactions and dealings involving named people, companies, vessels and groups, including terrorists and narcotics traffickers
Many OFAC rules apply to U.S. persons wherever they are located. Some rules also affect non-U.S. companies when their transactions involve the U.S. financial system. Civil liability may apply even when a violation was not intentional. Regular screening can help reduce that risk. We can review your potential exposure and help build procedures that fit your business.
OFAC License Applications And Voluntary Self-Disclosures
Some transactions that sanctions would otherwise prohibit may proceed with OFAC approval. General licenses allow certain types of transactions without a separate application. Specific licenses are issued to a person or entity after an application for a transaction that would otherwise be prohibited.
The details in a license request matter. We can help you explain the parties, purpose and payment flow in a clear and complete way.
A company may also discover a possible violation on its own. A voluntary self-disclosure allows you to report the issue to OFAC before the agency learns about it from another source. OFAC treats a qualifying disclosure as a mitigating factor. Timing and accuracy matter, so we recommend speaking with our lawyers before submitting one.
Defense In OFAC Investigations And Enforcement Actions
An OFAC subpoena, request for information or pre-penalty notice can arrive without much warning. OFAC may initiate a formal inquiry by issuing an administrative subpoena or request for information, which typically specifies a response deadline (often 30 days, subject to extensions). How you respond can affect what happens next. Our attorneys can help with:
- Internal audits: We conduct prompt, privileged reviews to trace transactions and identify compliance gaps.
- Voluntary self-disclosure (VSD): We assess whether disclosure is appropriate and whether it may reduce the base civil penalty.
- Mitigating factors: We present evidence of cooperation, lack of willfulness and remedial steps to support a lower penalty.
- Settlement negotiations: We work with OFAC to seek favorable terms or argue that the conduct was not egregious.
- Remedial fixes: We strengthen compliance programs and training to show good faith and help prevent repeat violations.
Some sanctions matters may also involve other agencies or criminal charges.
Get Legal Guidance From Our New York OFAC Compliance Lawyer
If you need an OFAC compliance attorney in New York, call us at 212-238-8900 or contact us online to schedule a consultation. We also have an office in Jersey City, New Jersey. Every matter is different and past results do not guarantee future outcomes.