Fines against TD Bank relating to a series of AML failures at its U.S. operations could hit as much as US $4 billion, double the previous estimate, analysts have said.
The lender, Canada’s second largest bank, has been embroiled in controversy for months after reports emerged of the U.S. Justice Department was investigating how Chinese drug traffickers allegedly used TD Bank to launder at least US $653 million between 2016 and 2021.
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