Compliance Failures in Banking

This chapter examines TD Bank's significant compliance failures in relation to money laundering and the internal bribery methods that criminals exploited. It stresses the importance of strong anti-bribery policies, adequate funding for compliance programs, and a cultural shift within banks to prioritize vigilance over profit. Using high-profile cases like Jeffrey Epstein, the chapter highlights the ongoing challenges in banking compliance and the tendency to treat penalties as mere business costs.