Law360, London (January 29, 2020, 5:54 PM GMT) -- Santander UK PLC has defended its decision to freeze the bank accounts held by two companies that described themselves as distributors of prepaid debit cards, arguing that the activity on the accounts raised too many red flags.
Santander said in in new court documents filed with the High Court on Tuesday that it blocked access to the accounts after several “grounds for suspicion” emerged, including what it called an unexplained and excessive turnover of funds, inconsistent descriptions of what the businesses do and the account holders’ failure to answer questions raised by the bank.
At the heart of the suit are...
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