The U.S. Justice Department reportedly probed Signature Bank before state regulators shut it down. The probe revolved around the bank’s anti-money laundering steps. Signature Bank, the crypto-friendly financial institution that was shut down by the New York Department of Financial Services (NYDFS) on 13 March, was reportedly the subject of a probe by the United […]
The probe revolved around the bank’s anti-money laundering steps.by the New York Department of Financial Services on 13 March, was reportedly the subject of a probe by the United States Department of Justice earlier this week., DoJ investigators in Manhattan and Washington were looking into the downed bank’s relationship with its crypto clients, specifically the steps taken to detect money laundering.
When asked for a comment, an SEC spokesperson directed Bloomberg to a statement made by the agency’s chairman Gary Gensler earlier this week. On Sunday, Gensler stated: It is important to note that Signature Bank’s staff has not been accused of any wrongdoing as of now. It is possible that the probe may end without the filing of any charges. At this time, it is not clear if the Justice Department’s probe into the bank had any effect on the NYDFS’s decision to shut it down.
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