Employees at TD Bank were growing increasingly alarmed three years ago about lax internal controls that had made it a hotbed for money-laundering, drug trafficking and terrorist financing.
When one anti-money laundering employee asked a fellow risk manager “what do the bad guys have to say about us”, his colleague replied “lol” before adding that TD was an “easy target”. Another joked that its failure to fix anti-money laundering issues was simply the bank living up to its slogan…
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