According to sources familiar with the situation, according to a March 15 Bloomberg story, Justice Department prosecutors were looking into whether Signature took sufficient steps to identify potential money laundering by its clients. The regulator was said to be especially worried about whether the bank was taking preventative steps to watch transactions for "signs of wrongdoing" and thoroughly screening account holders. According to two unnamed officials cited by Bloomberg, the Securities and Exchange Commission was also "looking" into a separate investigation into the bank. Information detailing the nature of the SEC's probe were not revealed. When the investigations started and whether they had any influence on the current decision by New York state authorities to close the bank are unknown. #signaturebank