Mediaboss Marketing

13 February 2024

In response to an article published in UK media on 4th February, Santander can say categorically that, after a thorough internal investigation, it has not found any direct nor indirect sanctions breach in any part of the group. We have distributed the following communication to our teams:

As we informed you last week, a UK media outlet published a report on 4 February 2024 about a Santander account allegedly linked to Iran.

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 U.S. sanctions against Iran in connection with these allegations.

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:

Regards,

Juan Manuel Cendoya

Global head of Communications, Corporate Marketing & Research

Go here to read the rest:
Update on Santander, Iran and US sanctions - Santander