In response to an article published in
We have distributed the following communication to our teams:
As we informed you last week, a
We have conducted a thorough investigation into the allegations and the circumstances related to the opening and use of the account referenced in the article, as well as connected individuals. Thus, we can state categorically that Santander has not found any breach by it of
For both legal and reputational reasons, the allegations in this news report require a clear and firm response from us. We have taken action both internally and externally to address them. If this article is raised by concerned clients or customers, I would be grateful if you were to address them with the following points of fact:
The required standard screening undertaken in relation to this account determined that the account holder was not included on any sanctions lists, and that the business was, according to the relevant public records, owned by persons who were not identified as subject to sanctions. At no time was
The account was closed in 2022 for reasons unrelated to these allegations. Neither the account holder nor the identified owners of the business were targeted for sanctions during the life of the account and none is today. The amounts transacted in the account while it was open were negligible.
We have also carried out a broader review of other persons associated with entities and individuals identified in the article and have not found any sanctions breach in any other part of Santander's global operations.
We reached out to appropriate regulatory authorities in the
As a global bank, Santander is acutely aware of its obligation to comply with all relevant sanctions regimes. In this case, both in the
Regards,
Global head of Communications, Corporate Marketing & Research
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