Santander UK accepts a fine of 125 million euros


London (EFE).- Santander UK has reached an agreement with the FCA (Financial Conduct Authority), the British supervisor, for the payment of a fine of 107.8 million pounds (about 125 million euros), for the “ineffective” controls of the financial institution in the prevention of money laundering.

The FCA, the UK equivalent of Spain’s National Securities Market Commission (CNMV), revealed on Friday that it had opened a case against the British subsidiary of Santander for the operations of six clients between 2012 and 2017 and reached the conclusion that controls to prevent money laundering were not sufficient.

This does not in any way mean that a crime has been committed by the entity which, during the period analyzed, was still immersed in the completion of the integration of the activities of the branches of Bradford & Bingley and Alliance & Leicester, merged in May 2010.


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