“TD Bank prioritized growth and convenience over following its legal obligations,” U.S. Attorney Philip R. Sellinger for the District of New Jersey
said in an October 10 statement
. “As a result of staggering and pervasive failures in oversight, it willfully failed to monitor trillions of dollars of transactions – including those involving ACH transactions, checks, high-risk countries, and peer-to-peer transactions – which allowed hundreds of millions of dollars from money laundering networks to flow through the bank, including for international drug traffickers.”
