Santander admits bank statement error

| December 24, 2010 | 0 Comments

Spanish banking giant Santander has admitted to sending the bank statements of thousands of customers to the wrong addresses following a printing error.

The bank, which is now one of the largest on the UK High Street, said current account holders have received the first page of their own statement and pages two and three of other people’s as well.

The bank has a major UK presence after acquiring Abbey for £9.5 billion back in 2004.

In July 2008, it rescued troubled mortgage lender, Alliance & Leicester, and a few months later, it took ownership of Bradford & Bingley’s savings business and branch network.

It currently has five million current account holders in the UK and said around 35,000 customers have been affected by the glitch.

Names, account numbers and recent transactions were listed on the statements which could put customers at risk of identity theft, however, Santander said this was not possible as the details were not transparent enough.

A spokesperson for the bank said: “We are sorry for any inconvenience this has caused and have taken immediate steps to correct this.”

It added: “We take the security of customer and account information extremely seriously, so any incident of this nature is treated with the highest priority.”

It also insisted that it is a “one-off incident”.

City Watchdog, the Financial Services Authority (FSA) has previously fined a number of financial services institutions for failing to protect customers’ personal details.

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