Blowing the Whistle Under IEEPA: What Prospective Whistleblowers Need to Know
The International Emergency Economic Powers Act (IEEPA) gives the executive branch of the federal government broad authority to impose sanctions and restrictions on foreign trade. While IEEPA recently made headlines when the U.S. Supreme Court struck down tariffs imposed by President Trump during the first year of his second term, the statute has long served as one of the federal government’s primary tools for protecting both U.S. domestic markets and U.S. national security.
Several departments, agencies, and bureaus within the executive branch have a hand in enforcing IEEPA. These include the U.S. Department of Justice (DOJ) and the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), among others. While these federal law enforcement authorities have substantial resources at their disposal, they still rely heavily on whistleblowers to come forward and disclose when enforcement action is warranted.
Serving as an IEEPA Whistleblower: An Overview
In most cases, serving as an IEEPA whistleblower will involve coming forward through one of two primary means. For individuals in the private sector who have information about IEEPA violations, serving as a whistleblower can involve coming forward under either: (i) the DOJ Criminal Division’s Corporate Whistleblower Awards Pilot Program; or, (ii) FinCEN’s Whistleblower Program. While there are key differences between these programs, they also share a few key similarities:
- Whistleblowers must be prepared to come forward with “original information” that warrants a federal inquiry;
- Whistleblowers who come forward through the appropriate means are entitled to stringent confidentiality and anti-retaliation protections; and,
- Eligible whistleblowers who assist with successful enforcement actions resulting in monetary sanctions or other financial penalties are entitled to a percentage of the funds recovered.
For individuals who have questions about serving as an IEEPA whistleblower, it is important to make informed and confident decisions based on an accurate understanding of all pertinent provisions of federal law. At the same time, it is also important to make decisions promptly. Not only can delays in coming forward potentially compromise the DOJ’s or FinCEN’s ability to pursue a successful enforcement action, but they can also potentially result in loss of whistleblower eligibility.
5 Key Considerations for Prospective IEEPA Whistleblowers
With this in mind, if you are considering coming forward as an IEEPA whistleblower, what do you need to know? Here are some key considerations from the federal whistleblower lawyers at Oberheiden P.C.:
1. Understanding What IEEPA Prohibits and Requires
IEEPA is an emergency powers statute that gives the U.S. President the authority to act following the declaration of a national emergency. Under IEEPA, agencies throughout the executive branch can take action to enforce both prohibitions and requirements lawfully imposed for purposes of protecting the interests of the United States. While potential violations of IEEPA must be assessed on a case-by-case basis taking into account the relevant national emergency, the nature of the executive action taken, and various other factors, some broad examples of potential IEEPA violations include:
- Executing Transactions with Sanctioned Entities – Executing transactions with foreign governments and other foreign entities that are subject to Office of Foreign Assets Control (OFAC) sanctions can provide clear grounds for IEEPA enforcement in many cases.
- Facilitating Prohibited Financial Transactions – Financial institutions that facilitate financial transactions in violation of OFAC sanctions, anti-money laundering (AML) requirements, and other federal compliance obligations can face prosecution under IEEPA as well as the Bank Secrecy Act (BSA) and other federal AML laws.
- Failing to Comply with Asset Freezes and Seizures – Financial institutions must also generally comply with asset freezes imposed by OFAC as well as other federal efforts to freeze or seize assets belonging to sanctioned entities.
- Trading in Restricted Commodities – Trading in restricted commodities (i.e., oil or rare earth minerals produced by foreign nations with interests adverse to the United States) can also violate IEEPA, among other federal laws, and serve as the basis for a federal whistleblower complaint.
- Exporting Goods or Services to Restricted Countries – Likewise, if U.S. companies export technology, defense items, or other goods or services to restricted countries in violation of federal law, this can serve as the basis for a federal whistleblower complaint under IEEPA as well.
Again, these are just examples. Ultimately, if you have questions about exposing any potential violation of federal law as an IEEPA whistleblower, we strongly recommend that you speak with a lawyer promptly. As we mentioned above, coming forward in a timely manner is important for multiple reasons, and an experienced federal whistleblower lawyer will be able to assist you with efficiently making a sound decision about how best to proceed.
2. Options for Serving as an IEEPA Whistleblower
As we also mentioned above, prospective IEEPA whistleblowers currently have two primary options for coming forward. The DOJ’s Criminal Division launched its Corporate Whistleblower Awards Pilot Program in 2024, and it remains open at the time of writing. Under this program, the DOJ’s Criminal Division is encouraging whistleblowers to come forward with three primary types of information that can potentially implicate violations of IEEPA, the Trading with the Enemy Act (TWEA), and other related federal laws:
- Certain crimes involving financial institutions and their employees;
- Foreign corruption involving privately held companies and others that are not issuers of U.S. securities; and,
- Domestic corruption involving companies (including financial institutions) in the United States.
The Financial Crimes Enforcement Network (FinCEN) accepts whistleblower complaints involving violations of four primary federal statutes and the regulations promulgated thereunder:
- Bank Secrecy Act (BSA)
- Foreign Narcotics Kingpin Designation Act (Kingpin Act)
- International Emergency Economic Powers Act (IEEPA)
- Trading with the Enemy Act (TWEA)
While FinCEN’s whistleblower program is also comparatively new, it has been modeled after the highly successful whistleblower programs administered by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC). FinCEN introduced regulations to finalize the reward provisions of its whistleblower program in early 2026. We discuss whistleblower awards under both programs in greater detail below.
3. Making an Informed Decision About Serving as an IEEPA Whistleblower
Making an informed decision about serving as an IEEPA whistleblower requires careful consideration of several key factors. First and foremost, prospective whistleblowers must assess their eligibility to come forward. While individuals in the private sector who have information about violations of federal law are generally eligible to come forward as whistleblowers, there are various restrictions, including (but not limited to) the requirement to come forward with “original information” not already known to the federal government.
If you are interested in coming forward, an experienced federal whistleblower lawyer should be able to assist with promptly assessing your eligibility. If it appears that you are eligible to come forward, your lawyer can also proactively contact the appropriate federal authority (i.e., the DOJ or FinCEN) to determine whether you have “original information.” Your lawyer should also be able to answer any questions you have about your right to confidentiality and the prohibitions against whistleblower retaliation under federal law.
4. What to Expect as an IEEPA Whistleblower
If you decide to serve as an IEEPA whistleblower, you can expect filing your whistleblower complaint to be just the start of a lengthy process. The DOJ or FinCEN will almost certainly want you to remain available to provide additional information as needed (to the extent that you can); and, if you hire a lawyer to represent you, you can expect your lawyer to serve as your liaison with the federal government.
Investigating suspected IEEPA violations can be a time and resource-intensive process. Financial institutions and other large corporate entities have teams of defense lawyers whose job is to protect them by all legal means available. When the evidence suggests that one or more violations have been committed, settlement is a possibility, though both sides must be willing to come to the table on equal terms to avoid litigation.
5. IEEPA Whistleblower Award Eligibility and Calculations
In any case, when an IEEPA whistleblower provides information that leads to a successful enforcement action—whether via settlement or litigation—the whistleblower can become eligible to receive a percentage of the funds recovered. Under the DOJ Criminal Division’s Corporate Whistleblower Awards Pilot Program, rewards can be up to 30% of the first $100 million recovered plus up to 5% of any recovery between $100 million and $500 million. Under FinCEN’s Whistleblower Program, eligible whistleblowers can receive rewards ranging from 10% to 30% of the amount recovered (provided that the amount recovered is $1 million or more).
The value of the information a whistleblower provides is a key factor in determining his or her reward percentage (if the government’s case is successful). But, there are other factors as well, and whistleblowers who engage legal counsel can rely on their lawyers to help them maximize their reward eligibility.
Speak with a Senior IEEPA Whistleblower Attorney at Oberheiden P.C. in Strict Confidence
If you need to know more about serving as an IEEPA whistleblower, we strongly encourage you to get in touch. To speak with one of our senior federal whistleblower attorneys in strict confidence as soon as possible, call 888-680-1745 or request a free consultation online now.
