Analysing the key failures
In 2024, TD Bank agreed to a record-breaking settlement of $3 billion with U.S. regulators after admitting to shocking AML failures over the course of a decade. The bank was found to have severely underinvested in its compliance programme and senior staff prioritised growth ahead of having the right AML controls in place. These failures enabled drug trafficking and terrorist financing, with over $270 million laundered through TD Bank accounts between 2019 and 2023.
In this report, you can discover the critical compliance breakdowns, key decision-making failures and the specific findings from U.S. regulatory investigations.
Learn:
- How systemic compliance failures led to a record fine
- The role of TD Bank’s leadership and toxic company culture
- The full regulatory penalties and remedial action taken
- Key lessons for financial institutions to strengthen AML controls
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