1646 GMT - Banco Santander SA is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after its U.K. arm was fined GBP107.8 million over repeated anti-money-laundering failures. The U.K.'s Financial Conduct Authority said Santander failed to properly oversee and manage anti-money-laundering systems, which affected the oversight of more than 560,000 business customers. The regulator said security lapses led to hundreds of millions of dollars of problematic funds flowing through its business bank accounts. The fine is one of the largest given by the FCA. Santander U.K. Chief Executive Mike Regnier said he accepted that the company's anti-money-laundering framework at the time should have been stronger. Dow Jones & Co. owns Factiva. (edward.frankl@dowjones.com)

 

(END) Dow Jones Newswires

December 09, 2022 12:02 ET (17:02 GMT)

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