Companies that promptly self-disclose and remediate potential violations of administrative or criminal law may significantly mitigate liability.

On July 26, 2023, the US Departments of Justice (DOJ), Commerce, and the Treasury jointly published a Tri-Seal Compliance Note on Voluntary Self-Disclosure of Potential Violations. The Compliance Note reviews the agencies’ voluntary self-disclosure (VSD) policies for violations of US sanctions, export controls, and other national security-related laws. The departments encourage VSDs by reducing penalties in certain circumstances, and sometimes enhancing penalties for companies that do not voluntarily disclose substantial violations of US sanctions or export control laws.