Op risk data: TD Bank takes US reg pill in purported drug-related AML fails
Also: SCB fraud bill rising fast; Postbank pain for Deutsche Bank. Data by ORX News
Toronto-Dominion Bank made April’s largest op risk loss with an initial provision of US$450 million against investigations by US regulators over failures to detect alleged drug-money laundering – a loss some reports suggest could grow with the investigations.
The provision relates to anticipated penalties from investigations by the US Department of Justice and a further three unnamed US regulators into TD’s Bank Secrecy Act and anti-money laundering (AML) programme.
The Canadian bank first
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