The Commission required the bank to report on the depth of the incident and measures taken after a cybersecurity attack suffered by Grupo Santander in Spain.

Origin of the attack may have been an unauthorized access to information kept by a Grupo Santander services provider, which contained data on clients of Banco Santander Chile.

May 14, 2024 - The Financial Market Commission (CMF) reports that it is monitoring the operations of Banco Santander Chile after the entity reported on May 10, 2024, through the Commission's Operational Incident Report System, a vulnerability affecting Grupo Santander in Spain.

Background information reported yesterday by the bank indicates that an external service provider of Grupo Santander was hit by an unauthorized access to one of its databases. The incident concerns Chile because information on Banco Santander Chile customers might have been accessed. After becoming aware of the situation, the CMF instructed the bank to report measures taken to adequately deal with the situation in detail, as well as duly safeguarding its clients.

Banco Santander reported that its business in Chile is unaffected and dismissed a theft of clients' credentials and an impact on their funds.

The CMF will continue to monitor this incident and evaluate the measures it deems necessary should it be pertinent.