TD Bank says comprehensive overhaul of anti-money laundering program underway

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The bank has been subject to regulatory probes over its AML compliance program both in Canada and the United States. The bank has hired AML professionals and made significant investments in technology to improve its AML compliance. The bank's response comes after The Wall Street Journal reported on Thursday that a U.S. Department of Justice probe into TD was focused on how Chinese drug traffickers and crime groups used the lender to launder their money from fentanyl sales.