TD Bank nears possible guilty plea in money laundering probe, WSJ reports
- TD Bank is close to a possible guilty plea to criminal charges that its U.S. retail bank failed to curb money laundering tied to Chinese crime groups and illicit fentanyl sales, the Wall Street Journal reported on Friday.
TD Bank and the U.S. Department of Justice did not immediately respond to Reuters requests for comment. The bank said in May it had undertaken a comprehensive overhaul of its U.S. and global anti-money laundering program. U.S. authorities have alleged that TD was reckless in failing to build and maintain systems to prevent money laundering, the Journal said.
The DOJ launched an investigation into the bank after agents uncovered an operation in New York and New Jersey that laundered hundreds of millions of dollars in proceeds from illicit narcotics through TD and other banks, the Journal reported in May.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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