TD Bank facilitated more than $1 billion worth of bank transfers from two international crypto platforms, according to FinCEN.
TD Bank’s recent meltdown could have ties to two unnamed cryptocurrency firms in Colombia and the United Kingdom.
On Oct. 10, TD Bank’s US wing agreed to pay more than $3 billion in penalties, while accepting limits on its US growth trajectory, settling charges related to improper monitoring of money laundering by criminal groups.
According to an Oct. 10 report by the Financial Crimes Enforcement Network (FinCEN), more than $1 billion worth of TD Bank’s transfer volume was related to two unknown cryptocurrency firms. The transactions were conducted by an unknown firm, identified only as “Customer Group C,” which purportedly operates in the “sales finance and real estate industries.”
