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Home News Santander to Pay $26 Million following French Tax Fraud and Money Laundering Probe.
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Santander to Pay $26 Million following French Tax Fraud and Money Laundering Probe.

08/12/2025

It has been reported [Paris, December 5, 2025] that

  • The Spanish banking giant Banco Santander SA has agreed to pay €22.5 million (approximately $26.2 million) to settle a long-running investigation by French authorities into alleged tax fraud and money laundering activities at its Paris operations.
  • A French judge approved the settlement on Friday, bringing to a close a case that has spanned more than a decade. [bloomberg.com], [globalbank…inance.com], [uk.finance.yahoo.com]

Background of the Case

  • The probe began in 2011, after Santander itself flagged potential irregularities at its Paris branch. In 2013, French prosecutors launched a judicial investigation, focusing on alleged offences including tax fraud, embezzlement, and money laundering between 2003 and 2010. [globalbank…inance.com], [uk.finance.yahoo.com]
  • According to Paris prosecutor Laure Beccuau, the investigation uncovered an illicit system involving depositing checks into individual accounts and providing cash to clients outside the formal banking system. However, the settlement does not include any admission of guilt by Santander. [bloomberg.com]

Settlement Details

  • Amount: €22.5 million ($26.18 million).
  • Nature: Judicial settlement approved by a French court.
  • Impact: Santander had already provisioned for the payment, meaning it will not affect the bank’s financial results. [bloomberg.com], [uk.finance.yahoo.com]

A Santander spokesperson emphasised the bank’s commitment to compliance:

Implications

  • This resolution underscores the growing scrutiny on global banks regarding AML/CFT compliance and tax transparency.
  • While Santander avoids a protracted trial, the case highlights the importance of robust internal controls and proactive reporting — the bank initially disclosed the irregularities that triggered the investigation. [globalbank…inance.com]

Sources

FRAUD EU MONEY LAUNDERING TAX FINES

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.  

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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.