Banco Santander Fined Over €40 Million for Openbank Issues Banco Santander SA has been fined more than 40 million euros ($47 million) by Spain's anti-money laundering watchdog, Sepblac, due to deficiencies in internal processes at its digital unit, Openbank. The fine is one of the largest imposed by Sepblac and is based on Santander's size rather than the severity of the issues. The review conce...

BLOOMBERG - Bloomberg

Banco Santander Fined Over €40 Million for Openbank Issues Banco Santander SA has been fined more than 40 million euros ($47 million) by Spain's anti-money laundering watchdog, Sepblac, due to deficiencies in internal processes at its digital unit, Openbank. The fine is one of the largest imposed by Sepblac and is based on Santander's size rather than the severity of the issues. The review concerns past issues in Openbank's operations in Spain.

Source

Published on Jan. 23th, 2026 Published on Jan. 23th, 2026

Scenario: Conduct / Breach of AML, Terrorism Financing or Sanctions Regulations

To read more operational risk news, register for free on MSTAR Platform.

MSTAR News

Oct. 6th, 2025

Regional banks favour scenario analysis over op risk modelling.

We’re proud to share that Elseware/MSTAR have been featured in Risk.net's Operational Risk Benchmarking 2025. Based on feedback from a leading bank, the article highlights how MSTAR can improve confidence in scenario models. Read the full article to see why our exposure based approach is making an impact in the future of operational risk.