A former TD Financial institution worker falsified paperwork to open dozens of accounts and supplied concierge-like providers to assist money circulate throughout borders, Bloomberg Information reported on Monday.
Gerry Aquino Vargas, the now-former retail banker in a Hollywood, Fla., outpost of TD Financial institution, took a sequence of $200 US bribes to assist purchasers transfer hundreds of thousands to Colombia by skirting anti-money-laundering defences, the report mentioned, citing American prosecutors.
“TD, like all monetary establishments, works with legislation enforcement to determine, cease and assist the prosecution of criminals,” financial institution spokesperson Lisa Hodgins mentioned in an emailed assertion to CBC Information.
“Once we turned conscious of those issues, we took motion towards these workers, co-ordinated efforts with the [Department of Justice], and have supported their work to carry these criminals to justice.
“Extra broadly, the place our program was ineffective, we have now held these leaders accountable and are taking motion to drive the modifications and meet our obligations,” Hodgins wrote.
The lender is dealing with a U.S. Division of Justice (DOJ) investigation over its ties to a $653 million US drug money-laundering case in New York and New Jersey, which is expounded to unlawful drug gross sales and an worker taking a bribe to facilitate the laundering of drug cash.
Final yr, the financial institution disclosed it was co-operating with authorities in an investigation into its anti-money laundering compliance program by the DOJ.
