Fca Fines Santander UK £107.7 Million For Repeated Anti-money Laundering Failures

The Caithness Business Index has posted the following article:

Fca Fines Santander UK £107.7 Million For Repeated Anti-money Laundering Failures

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The FCA has fined Santander UK Plc (Santander) £107,793,300 after it found serious and persistent gaps in its anti-money laundering (AML) controls, affecting its Business Banking customers. Between 31 December 2012 and 18 October 2017, Santander failed to properly oversee and manage its AML systems, which significantly impacted the account oversight of more than 560,000 business customers. [Read Full Article]