Fintrac imposes a $9.2m penalty on TD Bank for non-compliance with money laundering and terrorist financing measures.
Canada's financial intelligence agency, Fintrac, has imposed a $9.2m penalty on TD Bank for non-compliance with money laundering and terrorist financing measures. This follows Fintrac fining RBC and CIBC $7.5m and $1.3m respectively. TD Bank has also faced compliance investigations in the US. The penalty comes after Fintrac conducted a compliance examination of TD Bank in 2023, imposing the fine on April 9.
May 02, 2024
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