Emigrant Bank pays US$31,868 to OFAC over Iranian-held CD account

New York-based Emigrant Bank has accepted a US$31,867.90 penalty from the US Office of Foreign Assets Control (OFAC) over its operation of a Certificate of Deposit (CD) account for two individuals resident in Iran.

New York-based Emigrant Bank has accepted a US$31,867.90 penalty from the US Office of Foreign Assets Control (OFAC) over its operation of a Certificate of Deposit (CD) account for two individuals resident in Iran.