(Washington-AP) -- Washington, D-C-based Riggs Bank may pull out of the diplomatic banking business.

The Wall Street Journal reports that Riggs has come under intense scrutiny from federal investigators looking into terrorism financing. The F-B-I and federal regulators are probing huge cash withdrawals by the Saudis and have accused Riggs of failing to alert regulators of suspicious transactions.

Riggs, which has billed itself as "the most important bank in the most important city in the world," has long enjoyed a close relationship with the U-S government and the capital's large diplomatic contingent.

But now, Riggs has now terminated its relationship with the Embassy of Saudi Arabia.

The Journal reports that while the diplomatic business isn't very profitable, it has been a calling card for Riggs and accounts for about 23 percent of Riggs' more than four (b) billion dollars in deposits.

The bank deals with about 95 percent of Washington's 160-some embassies and missions.

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