TD Bank reaches $3 billion money laundering settlement with Justice Department – The Presidential Prayer Team

It is the largest bank to ever plead guilty to money laundering in the United States.

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The Department of Justice (DOJ) agreed to a $3 billion settlement with TD Bank after the financial institution pleaded guilty to multiple counts of conspiracy to commit money laundering, becoming the largest bank in U.S. history to do so .

From at least 2013 to 2023, TD Bank blatantly failed to maintain an effective anti-money laundering program, which facilitated much criminal activity. These were such well-known flaws that bank employees often mentioned them in internal conversations and jokes, and five employees even took part in their own money laundering scheme to funnel millions of dollars into Colombia.

“TD Bank created an environment that allowed financial crime to thrive,” said Attorney General Merrick Garland. “By making its services convenient for criminals, it has become one.”

Pray with us as the Lord leads you…

• For distinguishing Attorney General Merrick Garland from leading the DOJ.
• For U.S. officials who want to enforce banking laws and prosecute financial crimes.

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Sources: AP News, Newsweek

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