TD Bank conducted more than $1 billion in transfers related to two crypto platforms, according to FinCEN.
On October 10, TD Bank agreed to pay more than $3 billion in fines and limit growth in the U.S. to settle allegations of inadequate anti-money laundering monitoring.
According to FinCEN, more than $1 billion in transfers were linked to two unnamed cryptocurrency companies in the UK and Colombia. "Client Group C," working in financial sales and real estate, made monthly transfers exceeding $100 million. More than 90% of the funds came from a UK-based crypto exchange, and over 60% of the funds were sent to a Colombian institution offering crypto services.
