TD Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
U.S. money-laundering conspiracy and compliance failure
TD pleaded guilty to conspiracy to commit money laundering and agreed to pay $3 billion in combined penalties to U.S. authorities. The resolution followed alleged anti-money-laundering monitoring failures over approximately a decade and required a four-year independent monitorship plus broad compliance reforms.
2021
Moore Capital sues TD Bank over alleged fraud-response failures
Lawsuit filed
Moore Capital Holdings sued TD Bank, alleging that the bank failed to respond adequately to a fraud scheme that caused the firm to lose more than $275,000. The allegations are claims in the lawsuit, not a court determination.
Source excerpt
In a lawsuit filed Tuesday, a private equity firm accused TD Bank of "total and systemic failure to respond to perhaps the most prevalent form of cyber-crime today."
An investment management firm that lost more than $275,000 to fraud is suing TD Bank for what it characterizes as the bank’s complete lack of preparedness for a common type of scam.