The US Department of Interior Security is reportedly investigating the Cryptocurrency company Anchorage Digital Bank.
According to a new report from Barron, the El Dorado Task Force of the Federal Agency, which disputes money laundering and other financial crimes, contacted the employees of Digital Bank of Anchorage to inquire about the practices and policy of the company.
Barron’s quotes anonymous sources that ‘are familiar with the research’.
The specific reason for the probe remains unclear. A spokesperson for Anchorage refused to comment, while representatives for Homeland Security did not comment.
In 2022, Anchorage was ordered by the office of the Current of the Currency (OCC) to improve the controls surrounding the customer diligence, to monitor suspicious customer activity and other anti-money failure measures.
In the consent warrant of the bank regulator, the OCC said that Anchorage was contrary to the Bank Secrecy Act, which relates to anti-money laundering practices and reporting.
At the time, Anchorage said that it “had already worked to strengthen the identified areas and continue to strengthen these areas, which strengthens a new, digital assets standard” to combat money laundering. Anchorage remains under the consent assignment.
Earlier this year, the digital CEO of Anchorage Nathan McCauley complained that an American bank essentially eliminated his bank account for inexplicable reasons after two years of working with the lender.
“Our story is quite ridiculous … We had a bank with which we had a growing relationship for a number of years, which in fact had a cent to a cent, decided to eliminate our bank account.”
The CEO, who did not mention the name of the bank, said that the bank cut them off in June 2023, around the same time that countless reports from “Choke Point 2.0” – an alleged coordinated government’s effort to close the crypto industry – ran unbridled.
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