News

U.S. charges of graft and money laundering against a financial services professional in New Jersey do not by themselves support a major U.S. enforcement action and penalty against his former employer, TD Bank, legal and regulatory analysts told ACAMS moneylaundering.com. When federal authorities arrested Oscar Marcelo Nunez-Flores, "sales leader" of the Canadian-based lender's branch in Scotch Plains, New Jersey, in October and charged him with conspiring to launder $4.2 million of narcotics proceeds in exchange for $20,000 of bribes, they identified his employer only as "Institution A" ... "one of the largest retail banks in the United States." The charges...