Failed Bank Faced Criminal Probe (Signature Bank)
Failed Bank Faced Criminal Probe
March 15, 2023 at 7:13 am EDT By Taegan Goddard 1 Comment
https://politicalwire.com/2023/03/15/failed-bank-faced-criminal-probe/
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“U.S. prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend,” Bloomberg reports.
“Justice Department investigators in Washington and Manhattan were examining whether the New York bank took sufficient steps to detect potential money laundering by clients — such as scrutinizing people opening accounts and monitoring transactions for signs of criminality, the people said. The Securities and Exchange Commission also was taking a look, two people said, asking not to be named because the inquiries are confidential.”
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