Total Disaster

"America's Most Convenient Bank" - TD Bank, NA's slogan - it most certainly was, for criminals, for almost a decade, from January 2014 to October 2023. Senior executives, including the Chief Anti-Money Laundering Officer and Bank Secrecy Act Officer, "knew there were long-term, pervasive, and systemic deficiencies" in the bank's AML policies, procedures and controls, but let them pass, in pursuit of a "flat cost paradigm" of profit maximization. Neither is named in the US Department of Justice Information, released on 10 October, but will they be charged?

Timon Molloy, Editor (timon.molloy@lloydslistintelligence.com)

"America's Most Convenient Bank" - TD Bank, NA's slogan - it most certainly was, for criminals, for almost a decade, from January 2014 to October 2023. Senior executives, including the Chief Anti-Money Laundering (AML) Officer and Bank Secrecy Act (BSA) Officer, "knew there were long-term, pervasive, and systemic deficiencies" in the bank's AML policies, procedures and controls, but let them pass, in pursuit of a "flat cost paradigm" of profit maximization. Neither is named in the US Department of Justice Information [1], released on 10 October [2024], but will they be charged?