The penalty was the largest ever imposed by U.S. officials on a bank for violating anti-money laundering laws, and regulators imposed a cap on TD’s ability to accept new deposits.

Authorities cited joking by bank employees about crimes: “‘You guys really need to shut this down LOL.’”

The Department of Justice reportedly was investigating how drug traffickers used TD Bank to launder money derived from fentanyl sales in the U.S.

The Department of Justice reportedly was investigating how drug traffickers used TD Bank to launder money derived from fentanyl sales in the U.S.

Toronto-Dominion Bank is facing fines totalling about US$3.09 billion from U.S. regulators after pleading guilty to multiple charges including conspiracy to violate the Bank Secrecy Act and commit money laundering.

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's TD Bank has agreed to pay more than $3 billion in penalties for failing to adequately monitor money laundering by drug cartels, US officials said Thursday. Garland said that between January 2014 and October 2023, TD Bank failed to monitor $18.3 trillion in customer activity, allowing three money laundering networks to transfer over $670 million through TD Bank accounts.

Canada's TD Bank has agreed to pay more than $3 billion in penalties for failing to adequately monitor money laundering by drug cartels, US officials said Thursday. Garland said that between January 2014 and October 2023, TD Bank failed to monitor $18.3 trillion in customer activity, allowing three money laundering networks to transfer over $670 million through TD Bank accounts.

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

WASHINGTON (AP) — TD Bank will pay approximately $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.

TD Bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do so

TD Bank is facing a massive fine after regulators said its poor controls allowed for “significant money laundering, terrorist financing, or other illicit financial transactions.”

Toronto-Dominion Bank has agreed to pay fines totalling about US$3.09 billion from a number of U.S. regulators after pleading guilty to multiple charges related to failures in its anti-money laundering program.

(Bloomberg) — Toronto-Dominion Bank will plead guilty to money-laundering charges, a US Department of Justice prosecutor said in a Newark, New Jersey, courtroom on Thursday. 

Toronto-Dominion Bank is facing a cap on its asset expansion in the United States and being fined about US$3.1 billion for failing to monitor money laundering activities through its branches, say the U.S. Department of Justice and other U.S. regulators.

Spencer Platt/Getty ImagesTD Bank shares fell 8% after it pleaded guilty to anti-money-laundering charges and agreed to pay a $3 billion fine.The charges