Attorney General Merrick Garland emphasized that TD Bank created a conducive environment for financial crime, allowing significant money laundering to flourish for years unchecked.
TD Bank Group CEO Bharat Masrani stated the bank is taking full responsibility, implementing fixes in its anti-money laundering program to ensure such issues never recur.
The Justice Department revealed that TD Bank permitted multiple money laundering networks to move a staggering $670 million, becoming a hub for various criminal activities.
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