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Midweek Roundup: Wells Fargo Suspects Increase in Fake Accounts, Regions Financial Corp. Investigated, and More
printWells Fargo admitted in a financial report that the number of unauthorized bank accounts set up by its sales staff since 2009 could be significantly higher than the previous estimate of 2 million, the Financial Times said. More Alabama-based Regions Financial Corp. said U.S. prosecutors are investigating its anti-money laundering compliance program and relationship with a former customer suspected of criminal activity, Reuters reported. More Commonwealth Bank of Australia claimed its 53,700 alleged violations of anti-money laundering rules over a 3-year period were caused primarily by a software coding error in its "intelligent" cash deposit machines, which failed to alert...
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