Signature Bank faced criminal probe ahead of firm’s collapse

(Image: Bloomberg)

Wed, 15 Mar 2023

By Tom Schoenberg, Ava Benny-Morrison and Austin WeinsteinUS prosecutors were investigating Signature Bank’s work with crypto clients before regulators suddenly seized the lender this past weekend, according to people familiar with the matter.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 scrutinising people opening accounts and monitoring transactions for signs of criminality, the people said. ...

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