ARTICLE
27 September 2013

FinCEN Fines TD Bank For Failing To Report Nearly $1 Billion In Suspicious Transactions Related To Florida Ponzi Scheme

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The Financial Crimes Enforcement Network announced the assessment of a $37.5 million civil money penalty against TD Bank, N.A. for failure to file suspicious activity reports related to the massive Ponzi scheme orchestrated by Florida attorney Scott Rothstein.
United States Finance and Banking

The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a $37.5 million civil money penalty against TD Bank, N.A. for failure to file suspicious activity reports related to the massive Ponzi scheme orchestrated by Florida attorney Scott Rothstein. The Office of the Comptroller of the Currency also announced the assessment of a concurrent $37.5 million penalty against the Bank for related violations. Additionally, the Securities and Exchange Commission has assessed a separate $15 million penalty against the Bank for related securities violations.

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