In October, the US Department of Justice, Federal Reserve, and Office of the Comptroller of the Currency announced a resolution following extensive probes into these compliance lapses.
The Canadian bank agreed to pay nearly $3.1bn in fines and penalties and faces restrictions on the growth of its US retail banking assets.
The Justice Department’s filings outlined three separate money-laundering conspiracies involving TD Bank branches.
Two other former TD Bank employees, one from New Jersey and another from Florida, have already been charged in connection with the same scheme, referred to as the ‘Colombian ATM typology.’
Prosecutors have identified a total of five bank insiders who allegedly participated in the conspiracy, often in exchange for fees.