Transparency and Customer Protection

Santander Chile’s Commitment to the Integrity of the Financial System

The Bank has specialized tools, processes, and teams to detect warning signs, collaborate with the relevant authorities, and strengthen the security of its operations. Learn how this prevention model works and review the full document.

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Prevention and Detection of Unusual Transactions

The prevention and detection of unusual transactions are part of an ongoing effort aimed at safeguarding customers, protecting financial information, and contributing to the integrity of the financial system.

At Santander Chile, the security, trust, and well-being of our customers are at the center of everything we do.

How Santander Chile Prevents and Detects Unusual Activities to Protect Its Customers and the Financial System

In the financial system, the prevention, detection, and reporting of unusual or suspicious activities is an ongoing responsibility. Banks play a fundamental role in protecting their customers, safeguarding the integrity of the financial system, and ensuring the proper functioning of markets through controls, transaction monitoring, suspicious activity reporting, corporate governance mechanisms, and cooperation with regulators and competent authorities.

At Santander Chile, this approach is implemented through controlled processes designed to identify, review, and escalate potentially suspicious activities. The objective of these processes is to help protect customers, the financial system, and the Bank itself against the potential misuse of its financial products, while also safeguarding confidentiality, data protection, and customers’ rights. It is worth noting that Santander Chile is regulated by the Financial Market Commission (CMF), the Central Bank ofChile, and the U.S. Securities and Exchange Commission (SEC).

This approach is also part of a broader global commitment across the Santander Group, which maintains a zero-tolerance policy toward financial crime. The Group’s frameworkrequires strict compliance with all applicable anti-money laundering (AML) and sanctions regulations.

During 2025, the Group filed more than 311,000 suspicious activity reports with the relevant authorities, reflecting the scale and intensity of its efforts to identify, analyze, and escalate potentially irregular activities across the various markets in which it operates.

A Permanent Approach to Prevention and Control

Santander Chile has control, monitoring, and corporate governance mechanisms designed to identify warning signs, assesstransactional behavior, and act in accordance with applicable regulation when situations require further analysis.

This model includes multiple layers of review, including internal procedures, monitoring tools, due diligence processes, case escalation protocols, and coordination among the teams responsible for compliance, risk management, operations, and internal control. The management of unusual or potentially suspicious activities does not rely on a single measure, but rather on a set of processes that are continuously reviewed and strengthened. This approach enables the Bank to respond to potential risks, safeguard customer information and meet the legal obligations that apply to financial institutions.

Cooperation with the Competent Authorities 

In accordance with applicable local regulations and supervisory requirements, Santander Chile carries out the due diligence processes required by law and cooperates with the relevant authorities within the applicable legal framework.

Such cooperation is particularly important in ongoing investigations, where confidentiality and respect for institutional procedures are essential. For this reason, there are limits on the information that a financial institution may publicly disclose regarding potentially irregular transactions, individuals under investigation, or information that forms part of judicial proceedings, so as not to jeopardize the success of a criminal investigation.

Notwithstanding these limitations, Santander Chile maintains a policy of active cooperation with regulators and authorities, providing the required and relevant information and acting at all times in accordance with the law.

Actions Taken in Relation to Recent Publicly Reported Matters

Regarding information recently disseminated about an investigation linked to the Tren de Aragua criminal organization, publicly known as Operation Tokyo, Santander Chile has stated that the investigation is focused on individuals who allegedly acted in a personal capacity and does not involve the Bank as an institution.

This information was communicated to customers and employees, in line with the Bank’s commitment to providing clear, transparent, and timely information to its various stakeholders.

Based on the information available to date, the case concerns individual conduct allegedly attributable to a former employee whose employment relationship was terminated immediately. Furthermore, given the functions this individual performed within the Bank, he did not have access to systems that would have allowed him to open checking accounts or carry out international money transfers.

Santander Chile has also confirmed that customer information has not been compromised.

In this context, and while respecting the confidentiality requirements of an ongoing criminal investigation, the Bank undertookthe appropriate actions before the competent authorities and adopted the necessary measures in accordance with applicable legislation.

Commitment to the Integrity of the Financial System

Santander Chile reaffirms its commitment to the integrity, transparency, and security of the financial system. Preventing suspicious activities requires the coordinated efforts of financial institutions, authorities, regulators, and other competent bodies.

The Bank will continue to act in accordance with the law, actively cooperate with the authorities, and strengthen its internal processes in order to contribute to clarifying the facts and determining any corresponding responsibilities.

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FAQs

Santander Chile has processes, controls, and monitoring tools designed to identify warning signs and transactional behaviors when a transaction warrants further review. This work is part of the protection mechanisms that help safeguard customers, the financial system, and the bank itself against the potential misuse of financial products.

When an unusual transaction is detected, the bank activates the corresponding internal procedures to analyze the available information, assess the context of the transaction, and determine the appropriate next steps in accordance with applicable regulations and its internal policies.

The management of unusual or potentially suspicious transactions does not rely on a single measure, but rather on a set of processes that are continuously reviewed and strengthened. This approach enables the Bank to respond to potential risks, protect customer information, and comply with the legal obligations that govern financial institutions.

An unusual transaction is a deposit or transfer received for an amount that is not consistent with a customer's typical activity or profile. If the transaction has not yet been completed (for example, if a customer appears at a branch to make a deposit, or the bank has received an international transfer but has not yet credited the funds to the customer's account) and the amount is unusual, regulations require the customer to submit a Declaration of Source of Funds (DOF), along with supporting information and documentation demonstrating the legitimacy of the transaction. If the customer fails to do so, the funds must not be accepted or must be returned to the originating bank.

On the other hand, if a customer has already received funds (for example, a CLP transfer from another bank in Chile) in an amount that does not match the customer's profile, an investigation is initiated that may result in a Suspicious Transaction Report (STR) being filed with the Financial Analysis Unit (Unidad de Análisis Financiero – UAF), which is the competent authority.

Santander Chile maintains a comprehensive prevention framework that includes transaction monitoring, due diligence processes, alert reviews, corporate governance mechanisms, and coordination among various specialized areas. These processes are continuously reviewed and strengthened.

The review model for unusual transactions includes multiple layers of oversight, including internal procedures, monitoring tools, due diligence processes, case escalation mechanisms, and coordination among the teams responsible for compliance, risk management, operations, and internal control.

The bank uses specialized transaction monitoring and analysis tools as part of its risk management and control systems. These tools enable the identification of alerts that are subsequently evaluated by teams of experts.

Through preventive controls, continuous monitoring, review processes, and collaboration with authorities and regulators. The objective is to help detect potentially irregular activities and protect both customers and the integrity of the financial system, while also safeguarding confidentiality, data protection, and customer rights.

Yes. As a regulated institution, Santander Chile complies with the obligations established under applicable regulations and takes the appropriate actions when circumstances warrant it, actively cooperating with the competent authorities within the applicable legal framework.

Yes. Santander Chile maintains a policy of active cooperation with regulators and authorities, providing the required information and always acting in accordance with the law.

Santander Chile operates in accordance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations applicable to financial institutions. This framework is based on Law No. 19,913, which established the Financial Analysis Unit (UAF); the specific regulations issued by the Financial Market Commission (CMF); and Law No. 20,393 on the criminal liability of legal entities. In addition, Santander Chile applies Grupo Santander’s global standards and policies regarding the prevention of financial crime.

The investigation publicly known as Operation Tokyo—which concerns the dismantling of a network linked to the Tren de Aragua criminal organization—is focused on individuals who allegedly acted in a personal capacity and does not involve the bank as an institution.

No. The investigation does not involve Santander Chile as an institution; rather, it relates to actions attributed to an individual acting in a personal capacity.

While respecting the confidentiality requirements of an ongoing criminal investigation, the Bank carried out the appropriate actions before the competent authorities and adopted the necessary measures in accordance with applicable legislation.

The former employee was immediately terminated upon learning of the facts.

Ongoing investigations are subject to confidentiality and procedural safeguards designed to prevent interference with, or jeopardizing of, the criminal investigation.

It means that the bank requires strict compliance with applicable regulations regarding the prevention of financial crime and adopts the appropriate measures whenever it detects conduct that is inconsistent with its internal standards and legal obligations.

Yes. The bank’s products and services continue to operate normally.

Yes. Santander Chile maintains controls, monitoring mechanisms, and risk management processes designed to protect its customers and safeguard the integrity of its operations.

No. Santander Chile has confirmed that customer information has not been compromised. It should also be noted that, considering the functions performed by this individual within the Bank, this person did not have access to systems that would allow them to open checking accounts or carry out international money transfers.

No. Santander Chile will never request passwords, security codes, or other confidential information through phone calls, emails, or messages.

Yes. Products and services for businesses continue to operate normally, and the bank maintains its regular operations.

As part of its due diligence and monitoring processes, the bank may request additional information to better understand the context of certain transactions and comply with its regulatory obligations, including its obligation to know its customers.

When a transaction requires additional analysis, the bank may apply the internal procedures established under applicable regulations and its control policies, always with the objective of protecting customers and safeguarding the integrity of the financial system.