TD Bank money laundering

[JerrySpringer]

https://www.courierpostonline.com/story ... 622666007/



Caught this at the end:

"This resulted in 92% of total transaction volume — about $18.3 trillion — going unmonitored from January 2018 to early April 2024"


So, less than a billion dollars laundered but $18 trillion of transactions. I gotta wonder if TD Bank will be monitoring the crap out of any coin purchases or small time cash deposits in the future. The scale of what the launderers did though is Scarface territory.

[Morsecode]

Ha! And here I was laundering my zincs through their Penny Arcade

Serves them right. Any bank that refers to their branches as "stores" should be run out of town.

But why does it say "based in Cherry Hill, NJ"? I thought they had Canadian roots.

[68Camaro]

TD USA is basically a wholly owned independent subsidiary of TD Canada. As I understand it they share very few, if any, data records with each other. There is some type of "firewall" in place between the two entities.

[Lemon Thrower]

Ha! And here I was laundering my zincs through their Penny Arcade

Serves them right. Any bank that refers to their branches as "stores" should be run out of town.

But why does it say "based in Cherry Hill, NJ"? I thought they had Canadian roots.

Their US bank is separate and regulated by the US. Presumably its wholly owned by Toronto Dominion bank.

This article is an interesting headline but I doubt any of this involved coin deposits.

[tdtwedt]

FinCEN Report Reveals TD Bank Failed to Report Suspicious Crypto Activity

In a recent report from the Financial Crime Enforcement Network (FinCEN), it was alleged that TD Bank failed to disclose suspicious activity involving two international crypto exchanges. The report revealed that TD Bank processed over 2,000 transactions for an anonymous financial firm valued at over $1 billion between July 2023 and April 2024. The majority of these funds came from a cryptocurrency exchange based in the UK, with outgoing wires sent to a Colombian financial institution offering digital asset services. The transactions facilitated apparent third-party cryptocurrency trading and involved high-risk industries and jurisdictions, including Colombia, China, and countries in the Middle East.

https://gulfpress.net/business/crypto/f ... -activity/