WASHINGTON — TD Bank will pay approximately US$3 billion in a historic settlement with U.S. authorities who said Thursday that the financial institution’s lax practices allowed significant money laundering over multiple years.

Canada-based TD Bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do so, Attorney General Merrick Garland said.

TD created an environment 'that allowed financial crime to flourish by making its services convenient for criminals'{ai:summary}<p>TD Bank will pay around US$3 billion in a settlement with U.S. authorities due to inadequate practices that facilitated extensive money laundering over several years. This marks the largest guilty plea for money laundering by a bank in U.S. history. </p><p>#crime</p>

TD fined US$3 billion after pleading guilty to U.S. money laundering

Loading...