NEW YORK—Wells Fargo is being investigated by government authorities over issues in its anti-money laundering and sanctions programs, the bank has confirmed in a filing.
The company did not specify which government was inquiring about its practices, nor did it give details about the issues that were being probed, Reuters reported.
Separately, Wells Fargo said it is in discussions with the U.S. Securities and Exchange Commission to resolve an investigation into the cash sweep options that the bank provides to investment advisory clients, according to the filing, the report added.