Unmasking Money Laundering: A TD Bank Scandal

This chapter investigates a large-scale money laundering operation that involved over $470 million funneled through TD Bank, highlighting both the role of a key individual and the criminal network facilitating these transactions. It reveals alarming deficiencies in the bank's anti-money laundering systems, which were inadequate to prevent suspicious activities, despite multiple employee warnings. The narrative underscores the challenges of regulatory compliance within financial institutions and the consequences of prioritizing cost reduction over effective monitoring systems.