Wells Fargo disclosed in a public filing its anti-money laundering (AML) and sanctions programs are under investigation, adding to the already long list of compliance issues plaguing the bank.
In a quarterly report filed with the Securities and Exchange Commission (SEC) Thursday, the bank said, “Government authorities have been conducting inquiries or investigations regarding issues related to the company’s [AML] and sanctions programs.” The bank offered no further details about which agencies are conducting the investigations, or what the issues are.
