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TD Bank appoints compliance monitor after US$3-billion penalty around anti-money laundering controls

Summary by The Globe & Mail
Guidepost Solutions will monitor the bank’s business in the U.S. as part of a multiyear program to fix TD’s anti-money laundering problems and strengthen its controls, CFO Kelvin Tran says

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The Globe & MailThe Globe & Mail

TD Bank appoints compliance monitor after US$3-billion penalty around anti-money laundering controls

Guidepost Solutions will monitor the bank’s business in the U.S. as part of a multiyear program to fix TD’s anti-money laundering problems and strengthen its controls, CFO Kelvin Tran says

·Canada
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PYMNTS.comPYMNTS.com

TD Bank Says Guidepost Solutions Will Oversee AML Compliance Remediation Efforts

TD Bank said Thursday (Feb. 27) that U.S. authorities selected consulting firm Guidepost Solutions as the independent monitor to oversee the bank’s remediation efforts. Leo Salom, TD Bank’s U.S. head, said during the bank’s earnings call that the Justice Department and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) jointly selected the monitor, The Wall Street Journal reported Thursday. The bank agreed to retain a third-…

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1059theregion.com1059theregion.com

TD Bank Group reports flat Q1 profit as it focuses on turnaround – 105.9 The Region

TORONTO — TD Bank Group’s restructuring is well underway, said chief executive Raymond Chun, as the bank works to complete its anti-money laundering reforms and prepare for growth despite imposed U.S. limitations. “The strategic review is advancing as planned,” said Chun, who took on the CEO job in February following the fallout from the bank’s US$3.1 billion settlement last year on money-laundering deficiencies. “We are identifying significant …

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1059theregion.com broke the news in on Thursday, February 27, 2025.
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