Which term describes the act of voluntarily reporting sanctions violations?

Study for the Certified Bank Secrecy Act Professional Test. Use flashcards and multiple-choice questions with hints and explanations. Get exam ready!

Self-disclosure is the voluntary reporting of sanctions violations to the relevant authorities, done in good faith and with cooperation. This term captures the act of coming forward to inform regulators about a violation rather than waiting to be discovered or relying on internal detection alone. It signals transparency, remorse, and a willingness to cooperate, which many enforcement regimes consider when evaluating penalties or remedial steps.

The other concepts describe related ideas but not the act of reporting itself. Timely identification refers to spotting violations quickly within an organization, which is about internal detection rather than external reporting. A sanctions compliance program (SCP) is the overall framework an organization uses to prevent and detect violations. Blocked funds are assets that have been frozen under sanctions and cannot be used or moved.