Shares of Toronto-Dominion Bank were down in early trading following reports the bank is nearing a settlement regarding failures of its anti-money laundering safeguards in the U.S.Photo by Alex Lupul/The Canadian Press

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

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.

The bank also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller of the Currency that put limits on its growth in the U.S. after it was found that TD had “significant, systemic breakdowns” related to its anti-money laundering safeguards.

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