Anti-Financial Crime & Financial Crime Compliance
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aml, Banking, North America, US

INSIGHT: Diffused accountability at the likes of TD Bank prevents executives from being charged

GUILTY: File photo used for illustration purposes solely shows a branch of TD Bank in Chinatown in New York City.

BY PAUL O’DONOGHUE, Senior Correspondent

Accountability being spread across multiple people and departments in banks makes it almost impossible to hold individuals to account, an expert has said.

Brandon Garrett, a law professor at Duke University and author of the book Too Big to Jail: How Prosecutors Compromise with Corporations, said the decision-making process in financial firms is often decentralized.

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