Please enjoy this free trial of our subscription content service, for a limited time only.
Failure to prevent being used as a conduit for laundering money – despite its investment in AML technology – could see the bank fined $4 billion.
The potential size of the fine means that the bank will partially offset it by sale of Schwab shares.
The latest probe focuses on how Chinese crime groups used the lender to hide money derived from US fentanyl sales.
TD Bank walks way from deal blaming uncertainty caused by regulators.