Canadian bank takes US$450mil hit in money-laundering probe


Canada’s second-largest bank cautioned that the full cost of the fines it might eventually face is “unknown and not reliably estimable at this time”. —Bloomberg

TORONTO: Toronto-Dominion Bank has taken an initial provision of US$450mil in connection with US investigations into its anti-money laundering practices, and says it expects additional penalties to follow.

Canada’s second-largest bank disclosed the charge in a statement after markets closed.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

TNB terminates renewable energy PPA with Reneuco
Sunway to proceed with RM11bil takeover of IJM
KIP-REIT expects higher footfall across its malls
Oxford Innotech wins RM4.8mil data centre job
Suria Capital appoints Abd Rahman Dahlan as chairman
Ringgit closes higher amid US-EU tariff concerns, easing Japanese government bonds
Shin Yang secures RM117.7mil vessel deal
UOA REIT reports threefold profit increase in 4Q25
Perak Transit appoints Ismail Jamal as general manager
Pantech cautiously positive on outlook

Others Also Read