Canada’s TD Bank has agreed to pay more than $3 billion in penalties for failing to adequately monitor money laundering by drug cartels, US officials said Thursday
https://www.france24.com/en/live-news/20241010-td-bank-to-pay-more-than-3-bn-to-us-in-money-laundering-case
21 Comments
Titty bank?
Now your fees will go up and they will find new ways to get to your money
Good, they should be penalized for cutting corners on BSA requirements
No consequences for the ppl committing the crime? Just a monetary fine for a big corporation that will recoup the losses via fee increases for the clients of the bank. What a world we live in.
Agreed to pay $3B? Means they must have made about $9B or so. Not bad.
Anyone going to jail?!!
US officials motorboat titty bank
For those thinking $3B isn’t enough. They’ll likely pay 10x or more in related compliance costs (staffing, training, consultants, systems, etc). Based on the CMP, staffing was a major issue for years and the execs ignored it.
Notable that it’s the US holding Canadian banks accountable
any crime that doesn’t get you jail time is just the cost of doing business. smdh. Should at least force the change of the board
Did someone say something about a titty bank, or….?
LOLOLOL HAHAHAHAHHA WHAT?? Ahahahahahha oh my
“Failing to adequately monitor” makes it sound like they weren’t gleefully and knowingly profiting off of laundering blood money which is the reality.
For Laundering Trillions.
Ope, sorry
And no one goes to jail.
Who going to jail??? That’s the real question!
If they can pay 3 billion and not bat an eye, then hit them for 10 times as much.
lol so look they didn’t “see” it because it helping them make tons of money off new and existing customers. A lot of drug cartel money funneling in probably in massive amounts allowing them to offer more loans, in higher amounts in which they are making more money off interest of said loans. (Correct my run on sentences lol)
I had TD for a while, they suck. Anyone remember the riverside days? They had it going on.
Agreed?