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Call To Action
Draft write-up to initiate action in the House of Commons to bring in legislation that will do much more to protect our vulnerable and targeted seniors from being defrauded A petition to the House of Commons in April 2023 to protect seniors in particular from losing their lifetime savings and
US officials on TD Bank as ‘easy target’ for money laundering
TORONTO, Oct 10 (Reuters) – TD Bank (TD.TO), opens new tab became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures on Thursday, and the first bank in history to plead guilty to conspiracy to commit money laundering. Below are comments from U.S. government officials describing how TD’s
TD Bank, which spent years playing down its money-laundering woes, still needs to come clean with investors
Rita Trichur Globe and MailPublished October 11, 2024 Open this photo in gallery: U.S. Attorney General Merrick B. Garland speaks at a press conference announcing that TD Bank will plead guilty to money laundering charges and pay a $3-billion settlement at the Justice Department in Washington D.C. on Oct. 10.Carol
Guilty of anti-money-laundering lapses, TD Bank will pay $3-billion in fines to U.S. regulators
Stefanie Marotta Banking Reporter Globe and Mail Published October 10, 2024Open this photo in gallery: Surveillance footage included in the plea agreement between the U.S. Department of Justice and TD Bank shows a money launderer, Da Ying Sze, transacting at a New York branch on July 21, 2020 with $372,000 in
Are Canadians Well Served by our Leading Financial Institutions?
It is not often you see any federal politician of any party come out and speak so critically about our banking system nor for that matter provincial political leaders since Canada has a two-tiered financial banking system with oversight of most credit unions at the provincial level. While the posting
Eight ways to steer clear of financial fraud
Mark McGrath Special to The Globe and Mail Published September 16, 2024 Historians have documented financial fraud as far back as 300 BC. In a scheme known as “bottomry,” shipowners would borrow money, offering their ship or cargo as collateral. If the ship sank at sea, the borrower didn’t have
UK Makes its Consumer Duty more Real and Impactful for Consumer
The UK has been a leader among the countries actively participating on the Financial Action Task Force (FATF) based in Paris to tackle global money laundering and fraud. An important national initiative that has been implemented is called the Consumer Duty whose purpose in the simplest terms is to create
TD Bank fined $3B US after pleading guilty in historic U.S. money-laundering case
Toronto-Dominion Bank has been ordered to pay a total of $3.09 billion US in fines after pleading guilty to multiple charges, including conspiracy to violate the Bank Secrecy Act and commit money laundering. The bank has also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller
Catch the Fraud Before it is Too Late
An organization Canadian investors should know about and follow is called FAIR Canada. As per the explanation of who they are at faircanada.ca: FAIR Canada is the only national, non-profit, independent investor advocate in Canada. We are a trusted voice that provides informed, objective comment on significant issues that
Need to Do More to Prevent Elder Fraud
The Forbes article below on online elder fraud makes it patently clear how pervasive and insidious scams are with fraudsters perpetrating deceitful schemes on vulnerable seniors to remove them of their money. Far from just talking about how devastating it is to the victims and the economy as a whole