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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-05-01T17:34:00
TD Bank said it set aside $450 million to settle regulatory and law enforcement investigations into its anti-money laundering (AML) and Bank Secrecy Act (BSA) programs.
The bank, which previously disclosed the existence of the investigations by the Department of Justice (DOJ) and other U.S. regulators, said in a press release Tuesday it is negotiating the size of the penalty.
“The bank’s regulatory and law enforcement discussions with three U.S. regulators … and the Department of Justice are ongoing. The bank anticipates additional monetary penalties,” it said. “This provision does not reflect the final aggregate amount of potential monetary penalties or any nonmonetary penalties, which are unknown and not reliably estimable at this time.”
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2024-06-10T09:43:00Z By Kyle Brasseur
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
2024-05-28T19:45:00Z By Aaron Nicodemus
TD Bank Chief Risk Officer Ajai Bambawale said “procedural weaknesses” in the institution’s U.S. anti-money laundering program allowed bad actors to exploit its network.
2024-05-15T17:14:00Z By Aaron Nicodemus
Canadian lawmakers will come together to discuss TD Bank’s reported failure to prevent drug traffickers from laundering proceeds of fentanyl sales on its platform.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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