Anchorage Digital Bank, a crypto-focused institution, is reportedly under investigation by the Department of Homeland Security (DHS), according to Barron’s. The probe is being led by the El Dorado Task Force, a unit specializing in financial crimes, including money laundering. While the exact scope of the investigation remains unclear, former employees have allegedly been contacted regarding internal practices and policies.
Anchorage has faced scrutiny before. In 2022, the Office of the Comptroller of the Currency (OCC) flagged the bank for inadequate anti-money laundering (AML) protocols, citing failure to comply with the Bank Secrecy Act following its conditional charter approval in 2021. The company committed to addressing the issues and later claimed significant improvements in compliance and monitoring technologies.
The investigation comes shortly after Anchorage expanded its partnership with BlackRock, positioning itself as a custodian for crypto-related exchange-traded products.
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