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TD officials joked internally that the bank was favored by money launderers, but failed to stop the activity

Open this photo in gallery: TD Bank CEO Bharat Masrani in a 2020 file photo. According to U.S. law enforcement officials, problems with TD's anti-money laundering defenses began in 2014 and allowed hundreds of millions in illicit funds to flow through the facility .Fred Lum/The Globe and Mail The failure to stop money laundering at […]

By Andrew Jack

October 11, 2024October 11, 2024

TD Bank pays billion in historic money laundering settlement

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TD Bank pays $3 billion in historic money laundering settlement

WASHINGTON (AP) — TD Bank will pay about $3 billion in a year historical settlement with U.S. authorities saying Thursday that the financial institution's lax practices enabled significant money laundering over several years. Canada-based TD Bank pleaded guilty to conspiracy to launder money, becoming the largest bank in U.S. history to do so, Attorney General […]

By Andrew Jack

October 10, 2024October 10, 2024