TD Bank today pled guilty and agreed to pay over $1.8 billion in penalties to resolve the Justice Department’s investigation into violations of the Bank Secrecy Act (BSA) and failure to comply with anti-money laundering rules.

TD Bank is facing a massive fine after regulators said its poor controls allowed for “significant money laundering, terrorist financing, or other illicit financial transactions.”

For years, TD ignored red flags from high-risk customers and created a "convenient" environment for bad actors to exploit, the government said.

Today comes a tale of caution to banks and various lenders across the country that choose profits over compliance.

TD Bank will pay more than $3 billion in penalties after admitting to failing to adequately guard against money laundering, officials said.

Toronto-Dominion Bank faces $3B in penalties and restrictions on U.S. expansion as part of a settlement with regulators. Read more.

TD Bank will pay approximately $3 billion in a historic settlement with U.S. authorities who say the financial institution’s lax practices allowed significant money laundering over multiple years

TD Bank pleaded guilty on Thursday to failing to maintain an anti-money laundering program, among other charges.

TD Bank will pay almost $3.1 billion in fines and other penalties and face a cap on its US retail banking assets after pleading guilty to failing to prevent money laundering by drug cartels, among others.

As part of a deal, the TD Bank will pay more than $3 billion in fines for enabling drug traffickers and other criminals to open accounts and transfer money.