thecoinrepublic.com
- Increasing crypto frauds are troubling financial regulators globally.
Santander Group is a leading commercial, financial giant originally established in 1902.
The Bank quoted in one of its official press releases on 3 November 2022 that it will permit a £ 1,000 limit per transaction and a total of £3,000 in one month.
The new policies announced by the Bank will be implemented from 15 November 2022.
The report further mentioned that the Bank observed that crypto scams and frauds increased in the last few months, and over a thousand U.K customers have become victims of these frauds.
Moreover, the Bank hasn’t specified any limit on monies transferred from the crypto exchange back into Santander accounts.
Further, “The Financial Conduct Authority (FCA) has warned consumers about the risks of investing in crypto assets as money held in customers’ crypto wallets is unlikely to be protected by the Financial Ombudsman Service and Financial Services Compensation Scheme if something goes wrong.”
In the third week of October 2022, Santander announced that it would offer Santander Scholarship to 80,000 students from various universities in more than 11 countries.
Bank aimed to complete its initiative by the end of 2022 in Argentina, Brazil, Chile, Spain, Mexico, Poland, Portugal, the UK, Uruguay, and the US.
Earlier in 2021, Santander awarded 30,000 scholarships and business contributions in Spain. In the second quarter of 2022, it will offer Santander Estudios, Progreso, and Santander Erasmus scholarships.
Some reliable data states that Santander UK has approximately 14 million active users with around 64 corporate business centres globally. The Bank’s operating income as of data of 2018 was £5.420 million.
Data from 2018 states that approximately 25,872 employees are working with Santander.
Banco Santander released data for the first nine months of its profit in 2022, which is £7,316, which is 25% more compared to the profits of 2021.
In November 2021, TheCoinRepublic reported that Around £1 million worth of digital money tricks is being accounted for to Santander UK by its clients every month.
The Bank said it has recently seen an expansion in the worth of such cases, which can include a fraudster assuming control over a casualty’s PC and freezing them out of their records.
Reports of Santander’s Brazilian Subsidiary of 30 July 2022 state that a firm is planning to use Blockchain technology to tokenize the traditional financing sector, including assets, security, and debt issued by firms, with the motive of making these assets easily accessible to a wider audience.