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Canadian TD Bank's Inadequate Measures Against Money Laundering Spark Calls for Increased Regulatory Oversight

The U.S. Department of Justice (DOJ) has launched a thorough investigation into the Canadian TD Bank amid allegations of its involvement in a large-scale money laundering and drug trafficking operation. This revelation has sparked serious concerns about the effectiveness of Canada's banking regulations in combatting financial crimes. During the bank's Q2 earnings call, CEO Bharat Masrani admitted to multiple lapses in preventing illegal activities, as reported by CBC journalist Jenna Benchetrit.