Emigrant Bank

HQ Country of Company:
USA
Agency:
Department of Treasury
Location of Sentencing:
Washington D.C.
Date:
Description:

Emigrant Bank (Emigrant), a bank located in New York, has agreed to remit $31,867.90 to settle its potential civil liability for 30 apparent violations of the Iran sanctions administered by the Office of Foreign Assets Control (OFAC). For approximately 26 years, Emigrant maintained a Certificate of Deposit (CD) account on behalf of two individuals ordinarily resident and located in Iran, for which it processed 30 transactions between June 2017 and March 2021 totaling $91,051.13. Emigrant had actual knowledge of the Iranian address and apparent location of the accountholders during this period.

Fine:
Total Fine
$31,867.90
Total Forefeiture
$ 0.00
Total Special Assessment
$ 0.00
Grand Total
$31,867.90
Source:
Department of Treasury, "OFAC Settles with Emigrant Bank for $31,867.90 Related to Apparent Violations of the Iranian Transactions and Sanctions Regulations," 9/21/2023.
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