The fine might actually be bigger than the proceeds of the crime. Good.
Jleeps2 on
Should be more
phormix on
Damn. r/canada story but it’s actually the US (Treasury Department’s Financial Crimes Enforcement Network) hitting them with this. That means the money goes to the US…. and crickets from here in regards to what is likely similar crimes.
don’t worry. TD Bank will take it out on us somehow
coffee_is_fun on
Turns out they can’t break the law with impunity in the United States. Canada should have trained them better before they went abroad.
KingofLingerie on
looks like some customer’s financial fees are going up.
Wheels314 on
Canadian banks get such preferential treatment in Canada that sometimes they forget in some countries there are consequences for immoral activity.
bagelgaper on
Can almost guarantee the fine, and more importantly, the restrictions on growth are largely in part to TD not being an American-based bank.
Credit to the United States Justice Dept, enjoy your new $1,800,000,000 slush fund
Sufficient_Rub_2014 on
In Canada we seem to love laundering money for people outside of Canada. It’s fucked
TheOneWhoBoks on
We need to see more of this. Well done and may it be a deterrent to this shady crooks.
tommybare on
While they’re at it, can they fine them for being a shitty bank? Just lump the fines together.
kyleleblanc on
Meanwhile, mainstream nation state funded propaganda would have you believe that Bitcoin is only used for criminal financing. In reality however less than 1% of Bitcoin transactions have been shown to be used for criminal financing and even in 2024, 99% of criminal financing is still done with fiat ponzi bucks. And worse yet, directly by a financial institution as is the case here.
This is yet another reason why we Bitcoin.
Hicalibre on
This news has been out for nearly 24 hours on US networks, and not a single Canadian one has done little beyond link US articles on it.
xkimo1990 on
Too big to fail, fine them and refinance them with government money.
Hicalibre on
Used to be white collar crime was near acceptable in the US (why the mobs thrived) and rather difficult in Canada by comparison…funny how we swapped.
Character-Version365 on
Now do it in Canada
Nearby-Poetry-5060 on
Sad that the only consequences for fraud and money laundering in Canada is when they are imposed from outside of the country.
21 Comments
The fine might actually be bigger than the proceeds of the crime. Good.
Should be more
Damn. r/canada story but it’s actually the US (Treasury Department’s Financial Crimes Enforcement Network) hitting them with this. That means the money goes to the US…. and crickets from here in regards to what is likely similar crimes.
TD bank saw [what happened with HSBC](https://www.theguardian.com/business/2012/jul/17/hsbc-executive-resigns-senate) and knew that was an opportunity to grow their client base.
I guess account fees are going up again.
Good.
aahahahahahahahahahahahahaahahahahahahah
don’t worry. TD Bank will take it out on us somehow
Turns out they can’t break the law with impunity in the United States. Canada should have trained them better before they went abroad.
looks like some customer’s financial fees are going up.
Canadian banks get such preferential treatment in Canada that sometimes they forget in some countries there are consequences for immoral activity.
Can almost guarantee the fine, and more importantly, the restrictions on growth are largely in part to TD not being an American-based bank.
Credit to the United States Justice Dept, enjoy your new $1,800,000,000 slush fund
In Canada we seem to love laundering money for people outside of Canada. It’s fucked
We need to see more of this. Well done and may it be a deterrent to this shady crooks.
While they’re at it, can they fine them for being a shitty bank? Just lump the fines together.
Meanwhile, mainstream nation state funded propaganda would have you believe that Bitcoin is only used for criminal financing. In reality however less than 1% of Bitcoin transactions have been shown to be used for criminal financing and even in 2024, 99% of criminal financing is still done with fiat ponzi bucks. And worse yet, directly by a financial institution as is the case here.
This is yet another reason why we Bitcoin.
This news has been out for nearly 24 hours on US networks, and not a single Canadian one has done little beyond link US articles on it.
Too big to fail, fine them and refinance them with government money.
Used to be white collar crime was near acceptable in the US (why the mobs thrived) and rather difficult in Canada by comparison…funny how we swapped.
Now do it in Canada
Sad that the only consequences for fraud and money laundering in Canada is when they are imposed from outside of the country.
I thought that was crypto was for! smh.