U.S. regulators have taken bank and financial services firm, Wells Fargo to task, demanding that the bank dramatically improve its monitoring of financial crime. According to The Wall Street Journal, U.S. regulators are focusing on the bank’s procedures and tools, rather than on a specific event or client.

The bank refused to comment when approached by Reuters, so everything’s a little cloak and dagger right now.

What’s This All About?

In 2016, a scandal erupted around Wells Fargo’s sales practices and ever since the bank has been working to rectify a series of issues in its compliance processes. However, these steps have come under criticism from insiders at various points.

According to the WSJ reporting, authorities haven’t ruled out a fine for Wells Fargo, despite the fact that efforts to fix its processes are ongoing. So, there appears to be an issue there. It’s all very clandestine, but something’s certainly afoot.

Allowing a Ponzi Scheme?

Wells Fargo is also currently facing a lawsuit claiming it allowed Matthew Beasley, a Las Vegas attorney, to operate an alleged Ponzi scheme . In court filings the bank denied that "it had actual knowledge of, or provided assistance to, any alleged wrongdoing by Beasley," according to the WSJ report.

The news comes at a time when the bank is cutting back its physical operations to increasingly focus on digital services.