TD Bank caught up in drug money-laundering scheme

[@GabrielAnthony-09]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@ElijahOliver-t9u]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@GabrielAnthony-09]

@@ElijahOliver-t9u That's actually quite impressive,

[@ElijahOliver-t9u]

@@GabrielAnthony-09 My advisor is VICTORIA CARMEN SANTAELLA;

[@ElijahOliver-t9u]

You can look her up online

[@claircourtway]

@@ElijahOliver-t9u The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

[@Ottotherepoman1]

Here is my TD bank story. 1998-1999 Working as a temp sorting bank deposits at TD College park for all the ontario branches. Newly graduated from customs admin and on the look out for anything. The only native born Canadian working the midnight shift. And I am sure after my experience, the last. I soon noticed that multiple bank accounts, primarily vietnamese were getting daily bank deposits for 9,999 dollars. night after night, month after month. When I reported my suspicions of money laundering to the manager, I was told to shut up or lose my job. This has been going on forever. And its obviously institutionalized.

[@jay1645]

Typical and banks AML practices are a front(or scam) to keep regulators at bay. Banks lobby to keep fines low to profits made so if stock drops on headlines on AML is always a buy opp lol

[@c.a.greene8395]

Shit rolls downhill... Corruption always starts at the top

[@jay1645]

Bank AML is a scam .. fines paid are a pittance of $$$ made lol

[@crystalslattery1712]

Not surprised at all

[@light-yi2me]

The whole world knows about Canada’s institutional money laundering except poor Canadians;(

[@wheressteve]

A bank launders money and they are "caught up in a scheme". A person launders money and they are a "money launderer". Note the difference in responsibility for institutions vs individuals.

[@c.a.greene8395]

Laws were never created for them, the laws are there to control you and me. Laws and the people who enforce them have always been there to protect the haves from the anger of the have nots. If you look at almost every law we have from the founding fathers, it was all written for the protection of the property of wealthy...( "possession is nine tenths of the law") designed to keep the owners in power, and the workers kept underfoot. The design is meant to keep the honest man down, and is why it is said "show me one wealthy, honest business man and I will show you a liar"...the system is designed to ensure those who follow the laws may never get ahead, and it shows those who do get ahead cheated.

[@Downwindjc]

Welcome to planet earth 🌏.

[@bradc32]

happy with my credit union.if you are ambitious you can even join a board and have say in your CUs direction..if one big bank is doing it they all are.

[@dougiep2769]

Jail terms not fines. This is why trust is being lost. These are freaking nation rocking crimes.. a fine is not appropriate

[@msshaun]

Exactly!!! Jail time, fines and SHUT IT DOWN!

[@joananne7802]

This must be the worst bank in Canada. Staff were speculating on Facebook as to how local residents accumulated their money. They went so far as to accuse people of getting stolen credit cards, buying stuff, and selling the stuff they bought. These were bank tellers saying this from their own account. It was disgusting.

[@MrDayna39]

TD Bank, in my opinion, had ethical issues for a while now.

[@pretty_troll]

TD has been a boys club at the top since they amalgamated & by boys club i mean homosexual lifestyle

[@jay1645]

Banks have no ethics except one .. how much does a leveraged buck return lol

[@philippedefechereux8740]

I am an American citizen living in NJ and was - until hearing this news - "in love" with TD Bank as the best customer ervice bank I ever knew, and recommende it to everyone who would listen. I am just writing this in complete shock.

[@ST-fk3jz]

they must treat americans better lol

[@debbie6921]

I knew I left them for a reason. They also froze people's bank acct's . Glad I got my money out.

[@christinarosed.p.1967]

We want to be like Argentina. They rejected the WEF and are recovering!!!

[@absolutetruthgirl]

Remove your money from this "bank" pronto.

[@DStripeM]

If TD is doing this imagine other banks what they do.

[@user-yv7dt5je1l]

JPMorgan helped Epstein, and he DIDN'T kill himself. 😂 Eyes wide shut. Keep ignoring the truth or watch the world burn 🤷🏻‍♀️ the choice is yours.

[@TheMockatiel]

@KenCheeseBro td is my local bank

[@sun_s9067]

That depends on compliance culture at each bank. I work for one of the Big Five banks (obviously not TD). Although we are in a supporting function servicing the Bank and not cutomer facing, we are trianed regularly for compliance including anti money laundering. The message is clear that everyone in the Bank has duty to watch for all irregular activities and report if we come across one. How serious employees take on this and how good the system is to be able to catch such thing depends. However, i have faith in our people that, with regular training and emphasis, we will do the right thing.

[@rettbutler1312]

The CEO of TD bank, Bahrat Masrani, who has been settled in Canada for roughly 21 years but working for TD bank for DECADES (immigrated young), is a Ugandan-born immigrant of East Indian descent. Just gonna leave that here.

[@jimcovell1067]

CIBC

[@tonylinardi3089]

Makes one wonder why Casinos and drugs are being legalized...

[@MsCGarnica]

We are living in Joe bidens lawless society! It has to stop, and we so need to stop that traitor to our country!! Fjb!

[@phaldaz]

Great reporting guys!

[@DlostZhip]

The distress for banks was a farce; what we have experienced in the past 2 years is a result of a system that has worked incredibly well. The Fed just had to tighten credit to cool the economy.

[@Danielfreeman-nr2xc]

What about the Fed lending program for banks that was said to ease financial tensions after the domino effect from Signature and Silicon Valley banks?

[@DlostZhip]

Yeah, that sufficed, but what helped the economy was rising immigration which helped even out the mismatch between open jobs and people looking for work.

[@Stevanc]

I agree. Rising productivity is manna for central banks, allowing faster growth without inflation because each hour of work yields more goods and services at the same cost.

[@Sarahkidz]

I’m indifferent. All I do care about is what assets and securities will drive the Santa Rally. It is upon us, folks. I have a $100k portfolio, and I have a friend who has grown theirs to over 30% with the recent rallies. He is up 4% this month alone!

[@Danielfreeman-nr2xc]

I fell short of my mortgage and had to foreclose the property. Who is this broker you use, and are they accessible or is it private?

[@christosp.tsonis6194]

Ashamed for the CEO. TD used to be a good bank. Is this incompetent and corrupt CEO still in power, what does the board do about it?

[@esparda07]

"Eventually, they realized..." ...No, the bank was complicit.

[@samgee5908]

I cant even withdraw $2k cash or deposit over $4500 without getting harassed by teller at Canada Trust, this story sounds farfetched!

[@ilsevanheerden4976]

Of course YOU can't! Our every move is checked. The rich and corrupt, however, can do what they want.

[@badfeng]

The banks, including TD, don't want to give up cash, but if you transfer funds to another institution banks don't tend to hassle you. I think the difference with TD, from the sounds of it, is if you showed up with a mass of cash they wouldn't ask questions.

[@ethimself5064]

This is in the USA and TD and laws are very different down there

[@MorrisFilmPhoto]

Yaaa,Right! And soon you going to tell me that these same type of (Chinese/Mexican) Criminal Gangs bought up huge amount of Apartments and even whole Blocks, making Inflated Prices for any Apartment; as Bank doesn't care who own these apartments No one with Honest Hard Working Canadian can afford even single room apartments!!! Yaaa, Right! It all sounds like a "Conspiracy" against Hard Working Honest Immigrants from China or Mexico Drug Gangs, owning those Canadian Apartments unseen via Banks and Equity Companies like "WhiteFeather" 😂💯🐼💥 NoNoNo all Canadian Banks are Honest and All Apartments are Bought Up with Honest Hard Working Class Canadians!!! SureSure 👋

[@BirdTrainingClub]

That’s because we are peasants without the right management connections.

[@James-xu3vc]

TD fired my daughter from her job - unjustly. Punishment comes in strange ways. 😂

[@Mpg972]

Yes indeed but the customers shareholders and staff will mow all be potential down by the fine amounts

[@kellyprice1024]

No more hiring of a certain race in my bank.

[@taninogi]

Former insurance broker for TD myself and I will say that the corruption does not end in the banking sector. Very poor practices on the corporate side of this business across all branches.

[@taliajournee212]

TD knew it's own involvement, regular $2M deposits at a BRANCH??????

[@IsaacGabriel-kh5ds]

Speaks to corporate culture.

[@ed1019-h8o]

Yes exactly companies with exceptional ESG inc. employee care programs have very little employee fraud concerns.

[@rettbutler1312]

The CEO of TD bank, Bharat Masrani, who has been settled in Canada for roughly 21 years but working for TD bank for DECADES (immigrated young), is a Ugandan-born immigrant of East Indian descent. Just gonna leave that here.

[@jay1645]

Not smart enough to run rackets like JPM .. look up their cases 1K+ and fines paid 48 bln. lol

[@msshaun]

Bad habits trickled down from the thieving colonials back then and to this day..

[@msshaun]

Bad habits trickled down from the thieving colonials back then and to this day..

[@msshaun]

Bad habits trickled down from the thieving colonials back then and to this day..

[@MrEuroWolfie]

My wife/company bookkeeper was refused to deposit regular weekly cheques in the company account using my card and PIN (only deposit nothing else) saying that she isn't the cardholder..ps I asked for a card for her before and that wasn't an option.. it's never an average teller that can get this slide through, it's always a higher up greased to get the process rolling. After that if the account setup with the right notes or structure whatever it needs, the people laundering can just walk in any locations and just hand over a bag full of cash inserting the card and any teller will see the account structure and process the money without a hassle

[@Ricci-gf6ny]

Hello poor people do not launder money .

[@EMan-cu5zo]

They have nothing to launder.

[@parkerbohnn]

It's the Chinese way of life and that will never change.

[@_basevinyl]

They said crypto was bad, turns out they were just deflecting.

[@moomagpie4265]

I've had horrible customer service at TD on Elgin, Ottawa. Submitted a complaint and haven't heard back in 6 months.

[@kellyprice1024]

You should see the pathetic Christmas decorating in branches. Lots of packing tape used.

[@handzus19]

Arts degree holders are running Canada. What do you expect?

[@tbcy3zj]

Online gambling has been linked to money laundering as well.

[@azv343]

Thank goodness I avoided them like the plague.

[@lucrtrvl]

I’ve had an unpleasant customer service experience with TD bank in NJ a few times. Closed my account with them, never looked back. They were arrogant and rude just because they could. Never saw such strange staff behavior in any other bank in US.

[@kellyprice1024]

I had the same problem until yesterday. I must have gotten the very best person in the branch. She was so very nice. Mortgage free now. Finally!

[@studlyhungwell]

TD has representatives who attend bilderberg meetings. Nothing is accidental.

[@badfeng]

We live in mafia states.

[@aggierowe9574]

NYC is now a cesspool more than ever. Glad I left

[@hiltonwatkins6750]

Got to make us wonder when a management team does not react with complete transparency and clear exposure of any problems found… wow. There must be something terrible going on at the top levels in countries. Let’s force them to open up…

[@GMAN420BC]

Nothing will happen. Bad headlines never affect a bank. To have change, you actually have to prosecute. If there's no consequences, there's no problem

[@kellyprice1024]

Check resignations. Who stepped down.

[@OleGit1497]

Where is the financial monitoring and controls at the higher levels of management.

[@tushan1013]

Bharat needs to be held accountable for these issues. Under his leadership TD has fallen further and further from grace. Under Ed Clark, this kind of crap wouldn’t have happened.

[@tigalbaby]

He certainly should be held accountable as CEO. But under his leadership TD has grown its US presence in a significant way . A fly always makes a tasty soup un palatable. But in this case remove the irritant and all will be well .

[@bernl178]

Great reporting interesting topic

[@taradeleeuw2344]

“Bags” great chapter name

[@bellakrinkle9381]

Why is this not surprising, OMG.

[@SkateM-p5n]

Small people won't allow to express their truth.

[@CarlingOV]

Charges should be laid against the CEO of TD Bank. He has admitted that he was responsible for this criminal activity going on. White collar crime should come with prison sentences.

[@DonnaSmith-it6ve]

They stole 60000 from me .

[@BEYONDYOURIQ]

Every bank launders money...they cant get enough cash.

[@jackiepaper101]

"Caught up"

[@Anonymous_Whisper]

All main banks froze bank accounts....😢 Get an American citizenship

[@CedroCron]

Yes I'd like to deposit these bags of cash... No problem sir, right this way. Like who dropped the ball? You mean to tell me no one, not a single person raised an eyebrow? Come-on!

[@bartkorol611]

Because one of the bags just dropped... And the peoples eyes met and they said, not mine. Business carried on.

[@EMan-cu5zo]

This used to be normal to deposit cash. I remember years ago I worked in the restaurant business and almost every night we would deposit a large sum of money. At least enough that would raise flags currently. I think it’s a bad thing personally. I don’t want them to know what I am doing with my business. It’s hard to hold over a few thousand dollars anymore.

[@kellyprice1024]

Cassinos

[@jonroesler8155]

And the jail time?

[@taradeleeuw2344]

All very inciting

[@Devilcity6275]

This is why TD still continue to charge for everything, so their button and Profit can be larger. Disgusting. Customer should get some of the profits. ❤

[@NumberSeven1]

No UAR filed???

[@TheDriller571]

Sounds like it’s time to dump TD Bank

[@daveh5625]

Poor service and less then smart people at the main branch in Calgary...

[@songsabai3794]

I need Google-translator to communicate with my TD branch 😁

[@ed1019-h8o]

This is an opportunity for banks to integrate much more visionary and progressive HR policies. When employees feel genuinely valued, respected and respected by a company culture they don't engage in inappropriate behavior.Employees are who create most of the value for all businesses, the evidence is clear businesses with exceptional ESG standards inc. employee care, respect good benefits and compensation realize higher success in all aspects of their business models. It doesn't make what employees did right, but prioritizing employee well-being and fair compensation is ethical and classically prevents the kind of mayhem that has happened at TD and certainly is occurring with other banks, banks are well known to not pay fair and have outdated employee care policies. We are all people and equality of wellbeing is essential to happiness for all.

[@bigguygoogle457]

So as a customer, should I be concerned? Nothing said about it from a customer's point of view..

[@LoneBreeze]

Now I know why they just closed our good little TD bank in my home town In Alberta.

[@SeanOHanlon]

$650 million... Mexicans, Chinamen, and Russians. Oh my. TD Bank didn't catch it because the money was too good.

[@Phlegethon]

Look at the ceo you hired during this time. Are you surprised?

[@svenhodaka9145]

I’d like to deposit this money 💰💰💰💰💰💰💰💰💰from my small family dry cleaning, laundry and carwash business. 😉 This “uncertainty” period is an excellent opportunity to accumulate shares of TD. It my be painful in the short term but the bank will come out of this stronger on the other end. 📈

[@momzilla9491]

Canada suffered it's own mortgage meltdown between 1999 and 2006. Huge shuffle. Then we were forced into the Know You Client routine. Doesn't TD use this tool in the USA?

[@joan3115]

YES PLEASE! GET ALL OF THEM 🧚😇🙏🏽💜

[@LeonardHeramchuk]

So drug dealers can work for the government or for the drug cartel. What’s the difference

[@EMan-cu5zo]

They just want their cut of the drug sales. They couldn’t care less about the people.

[@kellyprice1024]

The government are the dealers. If they didn't want the drugs coming in, they could stop it. BC legalising drug use and in children's playgrounds to boot.

[@donnakeizer1468]

I knew TD was involved. They are all in my town,

[@MickeySn]

If someone don’t tell you the true, means they know something. “Problems crossed a lot” means a lot rich involved in it.

[@taradeleeuw2344]

That was 20 years ago

[@Mpg972]

Dont these tellers have supervisors this sounds like horseshit to me . And the lets get rid of cash mantra

[@infofootage]

I worked for TD until the last year at the back office! GARBAGE. I'm happy I've moved 😊.. sadly a scandal after a scandal. beautiful Canada is corrupted.. 😢

[@pernilsson9749]

But..... was it not an US stock Exchange company that have sold syntetic opiats and such, during last tens of years, that was the colprits?

[@taradeleeuw2344]

Quite often ,I bet

[@NicholasWingComposer]

The alleged bribed teller employees should also be drug tested to shed light on direct involvement in the criminal activity generating the illicit revenue. Further, teller's could receive illicit cocaine bribes to carry out money laundering transactions.

[@taradeleeuw2344]

I thought all banks were involved ?

[@chrisdixon7305]

I suppose I'll end up helping TD pay the 3 billion to USA authorities. Higher fees, anyone?

[@raymondgagne8363]

All Canadian banks need strict investigations/audits to make sure it is not going on here too. The federal government need to do their jobs and make sure money laundering doesn’t happen here also, I’m sure it is happening here too.

[@marilyncourteau8951]

the govt is moneylaundering central

[@EMan-cu5zo]

It happens everywhere

[@ponderinglife5582]

TD found guilty and then they were conveinently robbed 😂

[@dougiep2769]

How much blood of canadians are on the blood stained hands of these people..jail not fines

[@taradeleeuw2344]

Bags of monies

[@jimmyb6842]

Everyone is employed from the inside silly😂. Every money exchange center, call center, and bank😂

[@tigalbaby]

So TD is involved in laundering ???? Not some staff members at TD? And have other banks been investigated ? Why TD alone . Suspect that the US has targeted a Canadian company and conveniently left out Well Fargo etc!!! TD is an outstanding franchise which like all firms have a few dishonest staff members. Will continue to hold TD .

[@IsaacGabriel-kh5ds]

Keep drinking the Kool-Aid.

[@tigalbaby]

@@IsaacGabriel-kh5ds Ah Jim jones reincarnated .

[@binaryguru]

all banks launder money, this isn't a new thing

[@TommyFink-y6c]

Brown Matthew Garcia Mary Hernandez Betty

[@crashtheimf]

Laundering and what else . Nationalize them

[@cornmancoocookachew]

Everyone one that put their hands on the money go's to jail, hangman is comin down and they don't have very long. thx

[@Jeremihayes75]

Was they using bitcoin? Lol

[@AlexaXander-q2m]

There you go.... 😂 look what happened... I have lots of experience with this bank... discrimination as its best... you see?

[@JulieKnegt]

CBDC propaganda

[@izabelpostruzin4453]

😂😂😂 Canada is one big lundry machine future world truble maker. Where gangs from all over the world will rule rest of the world. China mafija is operating in Canada is one nice example together with others of course.

[@co59720]

🥱

[@AlexaXander-q2m]

Who's to blame? Chinese or cartels? Or TD bank? TD bank, because they focuses on average people who goes to the branch.. but, they underestimated their poor systems and low securities. Presents as high securities but Trojan Horse can still enter... well, AI Knows..😂

[@AlexaXander-q2m]

It is true... lost trust.. same with this system at the moment.....

[@SassySealion]

“Caught up in” a scheme? Frankly I find that hard to believe given that TD (my experience) is so nutso that they will refuse to perform their own contracts to avoid the labour cost of probably about half an hour without a care in the world of the consequences. It’s what happens when an attitude of impunity and enabling bonus structures collide.

[@happy-v8h]

I have had excellent service at TD. They are so quick when someone is messing with your account. And the employees are always so helpful. I'm going " WHAT"...

[@annetoronto5474]

Go woke, go broke! TD has the worst woke agenda! 😂😂😂

[@colinrussell476]

No bank is more woke, and more broke, than Laurentian Bank

[@Mpg972]

Banks should be banks

[@dees9478]

This didn't age well. Bank run time!