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In April, the Financial Transactions and Reports Analysis Centre of Canada finalized a CA$9.2 million penalty against TD Bank for violating anti-money laundering rules, beating the agency's previous record-high extraction of CA$7.5 million from the Royal Bank of Canada one year ago. U.S. regulators then upstaged Fintrac in disclosing a combined $1.9 billion in AML-related penalties this month against TD Bank, making their Canadian counterpart's new record seem negligible even before factoring in the hundreds of millions of dollars the Toronto-headquartered lender owes the Justice Department for conspiring to launder money. Differing national approaches towards corporate misconduct helps explain the...