U.S. Attorney General Merrick Garland speaks about a guilty plea by TD Bank for its failure to enforce money laundering by drug cartels, during a news conference in Washington, DC, on October 10, 2024.Photo by SAUL LOEB/AFP via Getty Images

TD fined US$3 billion after pleading guilty to U.S. money laundering

TD created an environment 'that allowed financial crime to flourish by making its services convenient for criminals'

· National Post

WASHINGTON — TD Bank will pay approximately US$3 billion in a historic settlement with U.S. authorities who said Thursday that the financial institution’s lax practices allowed significant money laundering over multiple years.

Canada-based TD Bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do so, Attorney General Merrick Garland said.

TD Bank hit with $9.2M penalty after failing to report suspicious transactionsTORONTO — Canada’s financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S.Ian Bickis, 02 May 2024How an Ottawa man allegedly robbed two TD Banks and one Scotiabank in three daysA 41-year-old Ottawa man is facing numerous charges after allegedly robbing three banks in three days in the Durham Region.National Post Staff, 27 Feb 2024