U.S. Department of Justice investigates possible money laundering activities at Signature Bank involving several cryptocurrency clients, sources


15th March 2023 – (New York) According to sources familiar with the matter, the U.S. Department of Justice in Washington and Manhattan are conducting investigations into possible inadequate monitoring practices at Signature Bank, which may have contributed to money laundering activities. The U.S. Securities and Exchange Commission is also reportedly looking into the matter. The New York-based bank, which provides services to several cryptocurrency clients, was closed down by state regulators on 12th March, as announced by the Federal Reserve.

When contacted by Bloomberg, representatives from the Federal Deposit Insurance Corp. (FDIC), DOJ, the U.S. Attorney’s Office in Manhattan, and the SEC declined to provide any comment on the ongoing investigations.