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TD Bank anticipates $2.6 billion hit for lax AML controls

Photo: Spencer Platt/Getty Images

The potential size of the fine means that the bank will partially offset it by sale of Schwab shares.

The bank’s AML controls have been under scrutiny for a number of years, but new allegations emerged in May that Chinese crime groups were able to exploit weaknesses to hide funds derived from sales of fentanyl in the US.

The bank said at the time that it expected additional