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"As defined∗ (PDF) by the UK Government, modern slavery is a term used to encapsulate slavery, servitude, forced or compulsory labor, and human trafficking. With an estimated 40.3 million people worldwide in some form of modern slavery—and forced labor alone generating an estimated USD 150 billion dollars in illicit funds per year—the scale of modern slavery presents a global challenge. With this in mind, Wells Fargo & Company (Wells Fargo) recognizes our responsibility to respect human rights in general, and consistent with the expectations of the UK Modern Slavery Act 2015 (UK MSA), to address modern slavery in our business operations and supply chain. Wells Fargo issues this statement in accordance with Section 54 of the UK MSA, covering our activities from the 2019 financial year. The statement gives an overview of our approach to addressing the issue of modern slavery."