Hosted By
TD Bank, the 10th largest bank in the U.S., has pleaded guilty to conspiring to fail to monitor financial transactions, which led to narcotics traffickers laundering some $670 million in illegal earnings through the bank. To quote U.S. Attorney General Merrick Garland, “by making its services convenient for criminals, TD Bank became one.” For this, TD Bank will pay a combined $3 billion in fines and penalties. It will also retain an independent compliance monitor for three years, remediate and enhance its AML compliance program, operate under a $434 billion asset cap, and face stricter regulation within the U.S. Ethisphere Chief Strategy Officer Erica Salmon Byrne explains how things got this way for TD Bank, and more importantly, what organizations can learn from it.
Ethisphere Resource Center: www.ethisphere.com/resources
DOJ Announcement: https://www.justice.gov/opa/pr/td-bank-pleads-guilty-bank-secrecy-act-and-money-laundering-conspiracy-violations-18b
ETHICAST - September 2024 DOJ Update to the ECCP: https://www.youtube.com/live/FhQwy2H5M4U?si=uyR_0EqZ7hvYBW6R
Many organizations really struggle with their ethics and compliance training and communications programs, relying on methods that are outdated, ineffective, or just plain cringey....
Grupo Bimbo is the world's largest baking company — 130,000 employees, nearly 200 plants, and 13,000 products sold across 3 million points of sale...
Erica Salmon Byrne, Chief Strategy Officer and Executive Chair of BELA, answers the question, "How should companies escalate investigations of ethics complaints when they...
