Wells Fargo says its software was used for transactions with sanctioned entities

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Wells Fargo Bank branch is seen in New York

(Reuters) – Wells Fargo & Co has disclosed to the Office of Foreign Assets Control that certain foreign banks used its software to conduct transactions with sanctioned entities, the bank said in a regulatory filing on Tuesday.

The bank has been cooperating with investigations or inquiries by federal government agencies, it added.

(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli)

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