TD Bank hit with record $3 billion fine over drug cartel money laundering, source says | CNN Business
www.cnn.com
TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, a source with knowledge of the settlement told CNN.
  • Octospider@lemm.eeEnglish
    28·
    1 month ago

    Just the cost of doing business. Nobody is going to prison so nothing will change. Start locking up CEOs

    • overload@sopuli.xyz
      3·
      1 month ago

      We should lock up every CEO that oversaw this situation, not even the original ones who created the problem or the current CEO. They get paid so much money, they should be the ones taking on those risks and cleaning things up if the companies aren’t operating within the law.

  • Track_Shovel@slrpnk.netEnglish
    14·
    1 month ago

    In one instance, TD Bank employees collected more than $57,000 worth of gift cards to process more than $470 million in cash deposits from a money laundering network to “ensure employees would continue to process their transactions” and not declare them in required reports, the DoJ said

    I’m just laughing at the mental image of three dudes or something trying to spend that.

    ‘Fuck… I’m SICK of Starbucks Breakfast Sandwiches…’

    • Laser@feddit.org
      7·
      1 month ago

      $57k is already laughable considering the amount of money deposited… but in gift cards?

      You’re already handling cash, aren’t you?