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Santander fined GBP107 million over 'repeated' UK anti-money laundering failures

( December 9, 2022, 08:16 GMT | Official Statement) -- MLex Summary: Santander has been fined 107.7 million pounds for repeated anti-money laundering failures by the UK's Financial Conduct Authority. The FCA said that between 2012 and 2017, the lender failed to oversee more than 500,000 customer accounts properly. In one instance, a customer account that was expected to receive monthly deposits of 5,000 pounds a month started receiving millions of pounds in deposits.Statement follows. Final notice attached....

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