⏱ 3 min read
TD Bank coughed up a staggering $1.43 billion in fines and $328 million in criminal forfeiture for its role in the largest bank money laundering scandal in US history. The Newark-based financial giant pleaded guilty to conspiracy to commit money laundering and Bank Secrecy Act program failures.
According to the US Attorney’s Office for the District of New Jersey, the bank’s systemic anti-money laundering failures allowed criminals to launder billions of dollars in illicit funds through its US operations.
The $1.5 billion haul is the largest in the country for fiscal year 2025, with $1.44 billion of it coming from criminal actions and $57 million from civil actions. The office also collected $348 million in asset forfeiture actions, making it the second-largest recovery in the country.
US Attorney Robert Frazer praised the office’s efforts, saying ‘the District of New Jersey is dedicated to holding defendants accountable for their wrongdoing and seizing ill-gotten gains from offenders.’ The recovery is just the latest in a string of high-profile cases brought by the office, which has been cracking down on financial crimes and money laundering in the state.
Related Federal Cases
📋 Key Facts
- Crime: White Collar Crime
- Defendant: Financial Crimes
- Location: NJ
- Source: DOJ Press Release
MORE FEDERAL CRIME NEWS
White Collar CrimeWhite Collar CrimeWhite Collar CrimeWhite Collar Crime