File &1 &2 in path &3 cannot be split into individual bank statements

What causes this issue?

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Check possible causes of errors:
The format entry in the Customizing setting
<DS:SIMG.FIBL_FEBV_IMP_SOURCE>Define Import Parameters</> does not match
the format of the bank statement file.
The bank statements in the file are incorrect.

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.