TD Bank’s Financial Woes Linked to Crypto Firms
1 min read
TD Bank’s recent financial troubles may be linked to two unnamed cryptocurrency firms based in Colombia and the United Kingdom. On October 10, TD Bank’s U.S. branch agreed to pay over $3 billion in penalties and accepted limitations on its U.S. growth, settling charges related to improper monitoring of money laundering activities tied to criminal organizations. According to a report by the Financial Crimes Enforcement Network (FinCEN), more than $1 billion of TD Bank’s transfer volume involved two unidentified cryptocurrency firms. The transactions were conducted by a company referred to as “Customer Group C,” which claimed to operate in the
Source: CryptoIntelligence
