kenso on Nostr: ⚡️Canadian Bank TD Bank Will Pay Colossal Fines Worth $3 Billion To US ...
⚡️Canadian Bank TD Bank Will Pay Colossal Fines Worth $3 Billion To US Authorities
⏺Canadian bank TD Bank has pleaded guilty to money laundering and will pay $3 billion in fines. According to the court decision, the US Department of Justice and federal financial regulators will receive money. The bank failed to control money laundering by drug traffickers and other criminals, a judge ruled.
⏺As part of the deal, TD Bank, whose U.S. unit is the 10th largest U.S. bank by assets, is accepting limits on its growth, the Office of the Comptroller of the Currency said Thursday. The combined assets of TD Bank's two U.S. subsidiaries will not exceed $434 billion.
⏺Attorney General Merrick Garland said will monitor the bank's compliance with anti-money laundering practices for three years as part of a settlement with the Justice Department that will receive $1.8 billion due to the bank's guilty plea in federal court
⏺Garland said that over a six-year period ending last October, TD Bank failed to track a staggering $18.3 trillion in customer activity, allowing three money laundering networks to move more than $670 million through bank accounts.
⏺Canadian bank TD Bank has pleaded guilty to money laundering and will pay $3 billion in fines. According to the court decision, the US Department of Justice and federal financial regulators will receive money. The bank failed to control money laundering by drug traffickers and other criminals, a judge ruled.
⏺As part of the deal, TD Bank, whose U.S. unit is the 10th largest U.S. bank by assets, is accepting limits on its growth, the Office of the Comptroller of the Currency said Thursday. The combined assets of TD Bank's two U.S. subsidiaries will not exceed $434 billion.
⏺Attorney General Merrick Garland said will monitor the bank's compliance with anti-money laundering practices for three years as part of a settlement with the Justice Department that will receive $1.8 billion due to the bank's guilty plea in federal court
⏺Garland said that over a six-year period ending last October, TD Bank failed to track a staggering $18.3 trillion in customer activity, allowing three money laundering networks to move more than $670 million through bank accounts.