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Canada's banking regulator has ordered Toronto-Dominion Bank (TD) to overhaul its risk controls following significant anti-money-laundering failings, as reported by the Globe and Mail. The bank has already fired more than a dozen employees in response to these issues. TD's CEO, Bharat Masrani, is working to repair the bank's image amid the scandal, which has led to a 22% drop in profits. The overhaul of the anti-money-laundering system is reportedly 'well underway'. The scandal has raised concerns among investors and highlighted broader issues with money laundering in Canada, including findings by FinTRAC.
Toronto-Dominion Bank fired more than a dozen people for conduct issues related to failings in its anti-money-laundering program in the U.S., a person familiar with the matter said https://t.co/GsrMb2Mwhf
Predatory "diploma mills" exploiting our system; ignored background checks; overcrowded food banks; no homes; less healthcare… The time for @JustinTrudeau & @MarcMillerVM to rein in unsustainable mass immigration was two years ago. Why won’t they stop? https://t.co/GpIJ2ypGAX
Predatory "diploma mills" exploiting our system; ignored background checks; overcrowded food banks; no homes; less healthcare.. The time for @JustinTrudeau & @MarcMillerVM to rein in unsustainable mass immigration was two years ago. Why won’t they stop? https://t.co/GpIJ2ypGAX