Santander Fined for "Serious and Persistent Gaps" in Anti-Money Laundering Controls
Santander is the latest big name in finance to fall foul of anti-money laundering requirements with a significant fine of more than £107 million. The bank's response was that it was "very sorry" for the problems that led to the fine from the UK regulator, the Financial Conduct Authority (FCA). According to the FCA, Santander failed to properly oversee and manage the systems that had been set up to prevent money laundering. Attempts that had been made to later try...
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