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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.

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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.

10 months ago·Toronto, Canada

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Montreal Gazette

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.

10 months ago·Canada

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The Globe & Mail

TD Bank ordered to pay almost $9.2-million by Canada’s anti-money laundering regulator over faulty controls

FinTRAC’s largest-ever penalty comes as bank revealed it has a US$450-million provision for similar penalties in the U.S.

10 months ago·Canada

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

The penalty by Fintrac follows on a $7.5-million fine against RBC and a $1.3-million fine against CIBC announced in December

10 months ago·Toronto, Canada

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

TORONTO — Canada’s financial intelligence agency says it has levied a $9.

10 months ago·Barrie, Canada

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Flin Flon Reminder

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

TORONTO — Canada’s financial intelligence agency says it has levied a $9.

10 months ago·Flin Flon, Canada

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Coverage Details

Total News Sources19

Leaning Left5Leaning Right3Center5Last Updated10 months agoBias Distribution

38% Left, 38% Center

Bias Distribution

38% of the sources lean Left, 38% of the sources are Center

38% Center

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CP24 broke the news in Toronto, Canada 10 months ago on Thursday, May 2, 2024.

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