Reported 2 months ago
TD Bank has agreed to plead guilty to violating U.S. federal laws on money laundering, resulting in a historic settlement of over $3 billion in penalties. This plea deal includes an asset cap and business limitations imposed due to failures in monitoring high-risk customers and facilitating large-scale money laundering operations, including transactions linked to fentanyl sales. The bank, which has faced numerous government investigations, acknowledged its compliance failures and has pledged to rectify its practices while facing scrutiny from regulators.
Source: YAHOO