TD Bank Pleads Guilty and Pays $3 Billion to Settle Money-Laundering Case - The New York Times

Authorities cited joking by bank employees about crimes: “‘You guys really need to shut this down LOL.’” NEW Listen to articles Tap the Play button at the top of any article to hear it read aloud. By Stacy CowleyMatthew Goldstein and Rob Copeland TD Bank agreed to pay about $3 billion in fines to U.S. authorities and pleaded guilty on Thursday to money-laundering-related charges in a case brought by federal prosecutors, who said the Canadian bank made it “convenient” for criminals to open accounts, transfer funds and even deposit seven-figure sums of cash at its branches. The combined penalties are the largest ever imposed by U.S. authorities on a bank for violating anti-money-laundering laws, and include an “asset cap” that prevents TD Bank from growing any bigger than its current size. A pair of federal charging documents lay out how, for more than a decade, TD Bank employees took bribes and overlooked flagrant activity by criminal customers from Colombia and elsewhere. In one exampl

Authorities cited joking by bank employees about crimes: “‘You guys really need to shut this down LOL.’” NEW Listen to articles Tap the Play button at the top of any article to hear it read aloud. By Stacy CowleyMatthew Goldstein and Rob Copeland TD Bank agreed to pay about $3 billion in fines to U.S. authorities and pleaded guilty on Thursday to money-laundering-related charges in a case brought by federal prosecutors, who said the Canadian bank made it “convenient” for criminals to open accounts, transfer funds and even deposit seven-figure sums of cash at its branches. The combined penaltie