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@ Layer3.news
2025-03-01 02:05:15
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MONITOR APPOINTED IN TD BANK $3 BILLION ANTI-MONEY-LAUNDERING SETTLEMENT
https://images.wsj.net/im-60682882/social
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✍️ TD Bank has agreed to pay over $3 billion in penalties and accept limits on its growth in the US to resolve an investigation into its failure to properly monitor money laundering by drug cartels and other criminal groups.
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👉 TD Bank agreed to pay over $3 billion in penalties
👉 TD Bank accepted limits on its growth in the US
👉 Independent monitor will oversee remediation efforts for up to four years
👉 Bank has made changes to its executive ranks
👉 New anti-money-laundering measures implemented, including hiring additional specialists and technology
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#LeoSalom #BharatMasrani #RaymondChun #business
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