Orhan 
According to FinCEN, TD Bank facilitated over $1 billion in bank transfers from two international crypto platforms.
The U.S. branch of Canada-based TD Bank agreed to pay over $3 billion in fines following accusations related to money laundering, and its expansion plans in the U.S. have been restricted. This agreement, dated October 10, was made due to the bank’s failure to monitor money laundering activities by criminal organizations.
According to FinCEN’s report, more than $1 billion of TD Bank’s transfer volume was linked to two cryptocurrency companies operating in the United Kingdom and Colombia. A customer group, referred to as “Customer Group C,” allegedly operating in the finance and real estate sectors, conducted the majority of these transfers.
Over 90% of the transactions by this customer group were conducted through funds originating from a crypto exchange based in the United Kingdom. Additionally, over 60% of these transactions were transferred to a financial institution in Colombia that provides virtual asset-related services.
FinCEN noted that this customer group processed over $100 million in monthly transfers, with most of the transactions facilitating crypto trading in high-risk regions such as Colombia, China, and the Middle East.
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