The United States Department of Justice and Securities and Exchange Commission were investigating whether Signature Bank failed to prevent money laundering before the firm collapsed on Sunday.Federal investigators in Washington and Manhattan, New York were specifically looking into the bank's dealings with cryptocurrency clients, to assess if the institution took sufficient steps to detect potential money laundering, reported, citing unnamed sources.It is not clear what came of the investigation, but the Federal Deposit Insurance Corporation was forced to when it could not meet the demands of customers withdrawing their funds.
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