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Santander UK fined £107.7m for repeated anti-money-laundering failures

Photo: Getty Images

Martina Lindberg

2 min read
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The big bank’s AML failures affected its ability to effectively oversee more than 560,000 accounts.

Santander UK Plc (Santander) is facing a £107,793,300 ($131,992,444) fine after serious anti-money-laundering (AML) failings. The Financial Conduct Authority (FCA) found significant and persistent gaps in the bank’s anti-money-laundering (AML) controls connected to their business banking customers. 

The FCA found that, between December 2012 and October 2017, the bank failed to effectively

The investigation

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