Senator Colin Deacon summarised the impact of the fine TD Bank was hit with after the US Innvestigation assessed they knowingly worked to avoid AML rules and thuse became criminals themselves. This United States Attorney General Merrick Garland humiliated this Canadian bank over something so fundamental. AML rules are intended to eliminate one aspect of the transfer of cash or funds from being criminal proceeds to legitimate business proceeds. Deacon is correct in thei being a humiliation for Canada, yet OSFI have been silent on this matter, something I find even worse. Here is a short piece on thereaction of … Continue reading TD Bank created an environment that allowed financial crime to flourish