Consumer complaint received 2026-05-15 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Fraud or scam — 
Company: SANTANDER HOLDINGS USA, INC.
State: TN

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) United States XXXX XXXX, XXXX Subject : Follow-Up on Complaint Against Santander Bank XXXX XXXX XXXX Fraudulent Transactions and AML Compliance Failures Dear Sir or Madam, I am writing to formally follow up on my complaint submitted in XX/XX/XXXX regarding Santander Bank XXXX XXXX XXXX XXXX and the fraudulent transactions that resulted in a financial loss of {$7100.00} USD. As outlined in my original complaint, I was the victim of a timeshare investment scam in XXXX, in which I was misled by individuals posing as legitimate investment agents through the fraudulent platform capitaladvisorsny.com. As a result of this scheme, I transferred funds to accounts held at Santander Bank, believing the transactions were part of a legitimate investment process. Unfortunately, no legitimate investment existed, and the funds were misappropriated by fraudsters. In my previous submission, I raised serious concerns that Santander Bank failed to fulfill its Anti-Money Laundering ( AML ) and Know Your Customer ( KYC ) obligations, despite the presence of multiple red flags and unusual transaction patterns that should have prompted further scrutiny. These transactions represented high-risk and atypical activity inconsistent with my normal financial behavior, and therefore should have triggered enhanced due diligence, transaction monitoring, and appropriate risk mitigation measures. Additionally, I expressed concern that the bank failed to demonstrate whether Suspicious Transaction Reports ( STRs ) were filed with the XXXX XXXX XXXX XXXX ( XXXX ) as required under XXXX XXXX law ( XXXX ). To date, I have not received any meaningful update regarding whether an investigation has been conducted, whether the receiving accounts were reviewed or flagged, or whether any regulatory reporting obligations were fulfilled. The absence of transparency and corrective action continues to raise significant concerns regarding the banks compliance with applicable AML regulations. Given the seriousness of this matter, I respectfully request an update on the current status of my complaint and any investigative actions undertaken by the CFPB. I also reiterate my request that the Bureau review Santander Banks compliance with AML obligations, KYC procedures, and transaction monitoring practices in relation to these fraudulent transfers, and determine whether regulatory failures contributed to the loss of funds totaling {$7100.00} USD. This incident has resulted in substantial financial loss, XXXX XXXX, and ongoing inconvenience, and I continue to seek appropriate remediation and reimbursement of the misappropriated funds should regulatory violations be confirmed. I also ask that the CFPB ensure adequate oversight and corrective measures are implemented to strengthen Santander Banks monitoring systems and AML compliance controls to prevent similar incidents affecting other consumers. I remain prepared to provide all relevant supporting documentation, including wire confirmations, transaction records, communications, and digital evidence relating to the fraudulent platform, to assist in the investigation. I would greatly appreciate written confirmation that this follow-up has been received, along with an update regarding the status of the complaint and any next steps in the review process. Thank you for your time and attention to this matter. I look forward to your response. Yours faithfully, XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation