TD Bank Admits to Money Laundering, Settles for $3 Billion

In October TD Bank pled guilty to both civil and criminal charges including conspiring to violate the Bank Secrecy Act related to money laundering. As a condition of the settlement, TD Bank will pay a $1.8 billion criminal penalty which when added to the civil fines brings the total to $3 billion dollars that the bank will pay to settle these charges.

Read more at Forbes.