TD Bank pleaded guilty in 2024 to conspiracy to commit money laundering after a decade of shuffling funds for criminal organizations.

Toronto-Dominion Bank TD-T is being sued by five former employees in the United States who allege they were wrongly fired as the lender contended with an investigation by authorities that found failures in its anti-money-laundering (AML) procedures.

A group of Chinese and Chinese-American employees who previously worked in the bank’s branches in New York say they were terminated as TD attempted to address its money-laundering breaches. In 2024, TD pleaded guilty to conspiracy to commit money laundering after a decade of shuffling funds for criminal organizations.

The plaintiffs claimed TD hired them to build relationships with Chinese customers.

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