{"id":139394,"date":"2024-10-11T12:00:14","date_gmt":"2024-10-11T09:00:14","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=139394"},"modified":"2024-10-11T12:01:20","modified_gmt":"2024-10-11T09:01:20","slug":"u-s-bank-faces-historic-3-1-billion-fine-for-money-laundering-conspiracy","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/u-s-bank-faces-historic-3-1-billion-fine-for-money-laundering-conspiracy\/","title":{"rendered":"U.S. Bank Faces Historic $3.1 Billion Fine for Money Laundering Conspiracy"},"content":{"rendered":"

The American division of TD Bank has acknowledged its failure to adhere to the Bank Secrecy Act, agreeing to a hefty payout of $1.8 billion to the Department of Justice and $1.3 billion to the Financial Crimes Enforcement Network (FinCEN).<\/p>\n

According to prosecutors<\/a><\/strong>, the bank’s oversight lapses allowed criminals, including drug traffickers, to transfer trillions of dollars without proper monitoring. In troubling revelations, some TD Bank employees reportedly assisted these illicit activities, accepting bribes in exchange for their complicity.<\/p>\n

Despite repeated warnings from both regulators and its internal team regarding the flaws in its monitoring practices, the bank failed to make necessary improvements over several years. U.S. Attorney Philip R. Sellinger for the District of New Jersey described the situation as alarmingly negligent, stating that criminals were able to deposit vast sums of cash openly at the bank.<\/p>\n