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Banco Santander has been sanctioned with a fine of 1,056 million euros as “absorbing entity of Banco Popular” for not having informed the authorities about the existence of indications of “events or operations” supposedly related to money laundering and the financing of terrorism.

The sanction, published this Monday by the Official State Gazette (BOE), includes a resolution reached on January 17 by the secretariat of the Commission for the Prevention of Money Laundering and Monetary Offences, which in turn publishes the agreement of the Council of Ministers of May 24, 2019 for the “very serious” infringement of the aforementioned regulations.

Specifically, explains the BOE, the entity failed to comply with its duty to inform the authorities of any internal communication from managers or employees about “indications” or the “certainty” that any “event or operation” carried out by any client of the entity was related to money laundering and terrorist financing.


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