Santander approves fine in Great Britain for deficiencies in money laundering prevention
Santander has approved a fine in the UK of 125 million euros, for deficiencies in money laundering prevention controls. The UK subsidiary has cooperated with FCA, the country’s financial authority in an investigation that was carried out in its self-employed banking division in the period 31 December 2012 to 18 October 2017.
Santander’s UK subsidiary has collaborated on civil and regulatory investigations, with a focus on identifying, assessing and managing more risky self-employed clients. An investigation has determined that the issue affects six of the more than 500,000 clients. As reported by the bank, the amount of the fine is calculated based on the income earned by the independent business during this period and includes a 30% discount due to an agreement with the regulator.
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#Bank Santander
#noticiasenespañol
#news
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