Santander fined £32.8m for failings in its probate and bereavement process

The Financial Conduct Authority (FCA) has fined Santander UK Plc £32,817,800 for failing to effectively process the accounts and investments of deceased customers. Santander did not transfer funds totalling over £183m to beneficiaries when it should have done. 40,428 customers were directly affected. Santander also failed to disclose information relating to the issues with the …

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