Anti-Financial Crime & Financial Crime Compliance
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NEWS: TD Bank knew of AML probe six months before disclosing; US staffer accused of creating shell companies, laundering millions in Colombia

CHARGES: “In respect of the recent charges of a TD branch employee in New Jersey, TD is cooperating fully with the law enforcement and this employee has been terminated,” a spokesperson said. Photo shows a Toronto-Dominion Bank (TD) sign outside of a branch office.

By AML Intelligence Correspondent CANADA’s TD Bank knew about a US-led AML inquiry into the lender six months before disclosing the matter, it’s been claimed. Analysts estimated the bank could be exposed to fines in the range of US$500M-US$1BN over the investigation being led by US prosecutors. The allegation comes at the same time as…

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