Saltık 
According to FinCEN, TD Bank facilitated more than $1 billion in wire transfers from two international crypto platforms.
The U.S. wing of Canada-based TD Bank has agreed to pay more than $3 billion in fines following money laundering charges and restrictions on its U.S. expansion plans. The Oct. 10 settlement was made because the bank failed to track criminal organizations’ money laundering activities.
According to FinCEN’s report, more than $1 billion in TD Bank’s transfer volume was linked to two cryptocurrency firms operating in the U.K. and Colombia. A group of customers, known as “Customer Group C,” allegedly involved in the finance and real estate sectors, made the bulk of these transfers.
More than 90% of this group’s transactions were made through funds from a crypto exchange operating in the U.K. Additionally, more than 60% of these transactions were remitted to a financial institution in Colombia that provides virtual asset-related services.
FinCEN noted that this group of clients remitted over $100 million per month, with most transactions facilitating crypto trading in high-risk regions such as Colombia, China, and the Middle East.