TORONTO — TD Bank Group says it has taken a US$2.6-billion provision in its third-quarter results related to ongoing U.S. investigations into its anti-money ...
TORONTO — TD Bank Group says it has taken a US$2.6-billion provision in its third-quarter results related to ongoing U.S. investigations into its anti-money laundering program.
"TD continues to work constructively with our regulators and law enforcement towards resolution of our U.S. AML matters and looks forward to bringing additional clarity to our shareholders, clients and other stakeholders," Masrani said in the press release.TD is strengthening its U.S.
Last August, the bank revealed that it expected U.S. regulators to impose penalties on it over its anti-money laundering compliance program.In early May, not long after the initial charge was announced, the Financial Transactions and Reports Analysis Centre of Canada, or Fintrac, imposed a $9.2-million penalty against TD for non-compliance with money laundering and terrorist financing measures.
At the time, the bank said it was working to improve, and was attending to specific administrative findings from Fintrac.
Bharat Masrani Money Laundering TD Bank
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