Fruitful Advisory, Llc

Allegations: ON AUGUST 14, 2023, EMIGRANT BANK ("EMIGRANT") ENTERED INTO A SETTLEMENT AGREEMENT WITH THE U.S. DEPARTMENT OF THE TREASURY'S OFFICE OF FOREIGN ASSETS CONTROL ("OFAC," AND THE AGREEMENT, THE "OFAC AGREEMENT"), WHICH ALLEGED THAT BETWEEN JUNE 30, 2017 AND MARCH 31, 2021, EMIGRANT MAINTAINED AND PROCESSED 30 TRANSACTIONS, TOTALING $91,051.13, THROUGH A CERTIFICATE OF DEPOSIT ACCOUNT HELD JOINTLY BY TWO IRANIAN RESIDENTS, IN APPARENT VIOLATION OF SECTION 204 OF THE IRANIAN TRANSACTIONS AND SANCTIONS REGULATIONS (ITSR), 31 C.F.R. PART 560. Status: Final Sanction Detail: PURSUANT TO THE OFAC AGREEMENT, OFAC REQUIRED EMIGRANT TO PAY A CIVIL MONEY PENALTY IN THE AMOUNT OF $31,867.90. SUCH PAYMENT WAS MADE ON SEPTEMBER 1, 2023. Summary: ON SEPTEMBER 1, 2023, EMIGRANT PAID A CIVIL MONEY PENALTY IN THE AMOUNT OF $31,867.90 TO OFAC PURSUANT TO THE OFAC AGREEMENT. IN ADDITION, EMIGRANT HAS AGREED TO MAINTAIN FOR AT LEAST TWO YEARS, SANCTIONS COMPLIANCE MEASURES THAT ARE DESIGNED TO MINIMIZE THE RISK OF RECURRENCE OF SIMILAR CONDUCT.