Regs name TD Bank’s compliance monitor; so far, bank has spent $138M improving AML program
By 
Aaron Nicodemus2025-03-07T15:42:00
TD Bank leadership called its response to anti-money laundering program lapses its “top priority” as federal regulators named their choice of a compliance monitor to oversee a top-to-bottom rebuild of its AML program.
On Feb. 27, TD Bank announced in its first quarter financial results that the Department of Justice (DOJ) and the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) had chosen Guidepost Solutions as the independent compliance monitor tasked with overseeing the bank’s remediation of longstanding AML compliance failures.
The Toronto-based bank, which is 10th largest in the U.S., was fined nearly $3.1 billion by four U.S. regulators in October, part of an investigation that uncovered three separate money laundering operations that moved $670 million worth of profits from the illicit trade of fentanyl across the bank’s U.S. network. Regulators said its AML program shortcomings violated provisions of the Bank Secrecy Act (BSA).
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