Crypto Bank Lacked Key Anti-Money Laundering Controls, U.S Says
- OCC says Anchorage Digital failed to comply with regulations
- Lender received conditional charter from regulator last year
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Anchorage Digital Bank, a major cryptocurrency lender, failed to put in place controls to prevent money laundering and report suspicious transactions, according to a U.S. regulator.
The Office of the Comptroller of the Currency said on Thursday that the bank’s compliance program last year lacked staff and internal processes to verify customers. Anchorage Digital, which didn’t admit or deny the OCC’s findings, agreed to correct the issues.