Written by International Compliance Association on Monday January 23, 2023
The UK’s Financial Conduct Authority (FCA) has fined Santander UK Plc (Santander) £107,793,300 after it found serious and persistent gaps in the bank’s anti money laundering (AML) controls, affecting its business banking customers.
There are extensive learnings for firms across all sectors and for all customer types. This checklist highlights the key issues identified in the Final Notice.
It is not necessarily an exhaustive list but is provided for firms to use at their own risk and does not constitute advice or assurance. In some instances we have grouped findings together.
Access checklist here.
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