Signature Bank was being investigated by the U.S. DOJ for signs of lax monitoring for criminal activity by clients before the crypto-friendly bank was siezed by regulators, Bloomberg reported Wednesday, citing people familiar. GregAhl reports.
The U.S. Department of Justice in Washington and Manhattan were investigating possible lax monitoring at Signature Bank to prevent money laundering, Bloomberg reported Wednesday, citing people familiar with the matter.New York-based Signature Bank, which has a number of crypto clients, was shut down on March 12 by state regulators, the Federal Reserve announced at the time.The DOJ was watching new accounts and looking for signs of criminal activity in transactions, the people told Bloomberg.
Spokespeople for the Federal Deposit Insurance Corp. , DOJ, the U.S. Attorney's Office in Manhattan and the SEC declined to comment to Bloomberg.
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