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In October 2024, U.S. authorities hit TD Bank with a record $3.1 billion in penalties, accusing the lender of willfully violating the Bank Secrecy Act and allowing roughly $1.5 billion worth of suspicious transactions to go unreported. Federal prosecutors notably alleged at the time that at least two of the largest criminal schemes to touch the Toronto-headquartered lender from 2012 to 2024 involved TD Bank's own employees, two of whom now face trial. As part of the settlement with the Justice Department and several regulators, TD Bank agreed to remove any employees implicated in the violations. But TD Bank's efforts...