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Santander UK Fined £108m for Faulty Controls

Santander UK Fined £108m for Faulty Controls

by Starling Insights

Starling Insights Editorial Board


Santander UK was recently fined £108 million by the UK Financial Conduct Authority (FCA) after an investigation revealed "serious and persistent gaps" in its money laundering controls. According to the FCA, the bank failed to oversee more than 560,000 business customers properly between December 2012 and October 2017.

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