Published 16 days ago

TD Bank hit with $9.2M penalty after failing to report suspicious transactions

Canada's financial-crime watchdog, FINTRAC, imposed a $9.2 million penalty on The Toronto-Dominion Bank for non-compliance with anti-money laundering and terrorist financing measures.
TD failed to report suspicious transactions, assess money laundering risks, and monitor high-risk clients.
Fintrac found that 96 clients, including a politically exposed foreign individual, were not enrolled in TD's high-risk client program.

Insights by Ground AI

Does this summary seem wrong?

0 Articles

All

Left

Center

Right

CTV News

TD Bank hit with $9.2M penalty after failing to report suspicious transactions

Canada’s financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S.

16 days ago·Canada

Read Full Article

Global News

TD Bank hit with $9.2M fine over failing to report suspicious transactions - National

TD Bank has been slapped with a $9.2-million fine from Fintrac over what the watchdog says were a range of failures in reporting suspicious activity.

16 days ago·Toronto, Canada

Read Full Article

Financial Post

TD Bank hit with $9.2 million penalty for failing to report suspicious transactions

Toronto-Dominion Bank, which is in the midst of several probes over its anti-money-laundering controls in the United States, has been hit with a financial penalty of nearly $9.19 million for several instances of non-compliance with Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

16 days ago·Canada

Read Full Article

The Epoch Times

TD Bank Hit With $9.2M Penalty After Failing to Report Suspicious Transactions

Canada’s financial intelligence agency says it has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S. The penalty by the Financial Transactions and Reports Analysis Centre of Canada follows on a $7.5-million fine against RBC and a $1.3-million fine against CIBC announced in December. The agency, know…

16 days ago·New York, United States

Read Full Article

Coast Reporter

TD Bank hit with $9.2M penalty after failing to report suspicious transactions

TORONTO — Canada’s financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S.

16 days ago·Sechelt, Canada

Read Full Article