TD BANK COMPLIANCE OFFICER SLEEPING ON JOB

FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA ~ Contributed & Written by Kenneth Rijock

 

 

 

TWO FINAL POINTS TO PONDER REGARDNG TD BANK AND ITS PONZI SCHEME CLIENT

 

Two final thoughts that still bother me about the Scott Rothstein Ponzi scheme and his principal banker:

 

(1) How could the entire TD Bank compliance department ignore all those hits from the bank's AML software ? Obviously, someone in senior management trumped compliance. Why is he not being held accountable ?

 

 (2) The $52m fine, according to one of the lawyers for the Ponzi victims, is insufficient, as it represents only a drop in the bucket, when compared to the bank's annual profit; he's right.  Next time, how about a real punishment.

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