What is the Toronto Dominion scandal?
The Toronto-Dominion (TD) Bank scandal involved a historic U.S. regulatory enforcement action resulting in a $3.09 billion penalty after the bank pleaded guilty to criminal conspiracy for failing to maintain an adequate anti-money laundering program. Federal authorities uncovered that inadequate internal controls allowed international criminal networks to launder hundreds of millions of dollars undetected.
Related FAQs
The companies merged, but it was not a simple buyout of one by the other. Synnex Corporation and Tech Data Corporation completed a merger in September 2021 to form a new, combined entity called TD SYNNEX.
Toronto-Dominion Bank maintains an extensive retail and commercial banking presence across the eastern United States through its subsidiary, TD Bank, N.A.
While TD Bank in the United States and TD Canada Trust in Canada share the same parent corporation, brand aesthetic, and overarching corporate identity under the Toronto-Dominion Bank umbrella, they operate as distinct, separate legal entities with c...
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