How TD Bank got caught up in the global drug war, helping to launder hundreds of millions of dollars - eviltoast
U.S. authorities believe the criminal ring laundered US$653-million between 2016 and 2021

US regulators have found evidence that TD’s anti-money laundering fraud detection is insufficient

For months, analysts have predicted a fine in the range of US$500-million to US$1-billion, but that’s now jumped. “We believe cumulative fines could easily hit $2-billion,” Mr. Dechaine wrote.

Meanwhile, in Canada, TD is facing record fines (archive) from Canadian regulators.

https://archive.is/e0SGA

    • DerisionConsulting@lemmy.caEnglish
      5·
      7 months ago

      There is a difference in passively not reporting something that is probably obviously money laundering, and actively funding something harmful.

      Don’t get me wrong, drug money isn’t clean, but funding war or investing in oil and gas companies probably does more harm.

    • Nik282000@lemmy.ca
      3·
      7 months ago

      Like $10B in ‘earnings’ made by investing other peoples money and charging them fees.