Wells Fargo buys anti-money laundering software


SAN FRANCISCO -- Wells Fargo, the San Francisco-based banking and financial services company, said in June it had bought an automated anti-money laundering software package from IBM and Searchspace, a specialist software vendor. The package will use artificial intelligence to monitor every transaction that flows through Wells Fargo and highlight unusual transactions.

"[We] determined that Searchspace and IBM had the strongest offering to meet our aggressive compliance deadlines and effectively

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