TD Bank caught up in drug money-laundering scheme

TD Bank has been plagued by concerns about its anti-money-laundering capabilities for over a year. In March 2023, they tried to acquire the U.S. based bank First Horizon Corp. Regulatory issues delayed the acquisition, and in May 2023, the deal fell through.The extent of TD’s anti-money-laundering issues weren’t clear until now, when it’s revealed that TD is involved in a U.S. investigation of a US$653 million money-laundering and drug-trafficking operation. Tim Kiladze, financial reporter and columnist for the Globe, is on the show to talk about TD’s alleged lack of oversight and what this means for the bank – and its customers – going forward.Questions? Comments? Ideas? Email us at [email protected] Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.