The Financial Conduct Authority (FCA) said in a statement on Friday, December 9, 2022 that Santander has been fined 107.7 million pounds (132 million dollars and almost as many euros) by the British Financial Supervisory Authority (FCA) for a failure to comply with its anti-money laundering obligations of capitals.

The Financial Conduct Authority (FCA) believes that its shortcomings identified for Santander relate to hundreds of millions of dollars in suspicious funds that passed through the accounts of its professional clients between 2012 and 2017. The Spanish bank accepted the findings of the supervisory body in exchange for a 30% reduction in the financial penalty. It cooperated fully with the FCA.

Mark Steward, the FCA's executive director for law enforcement and market surveillance, said that “Santander's mismanagement of its anti-money laundering systems and inadequate attempts to address issues have created a prolonged and serious risk of money laundering and crime ; financial.”