How America’s Most Convenient Bank Became A Criminal’s Paradise

When you think of a bank, you imagine a place of trust and responsibility. But for nearly a decade, TD Bank, the U.S. branch of Canada's Toronto-Dominion Bank, played a very different role. This major bank didn’t just fail to prevent crime—it actively became a gateway for some of the worst criminal activities imaginable, including human trafficking, drug dealing, and Ponzi schemes.

The scale of lawbreaking was massive. Between 2014 and 2023, TD Bank allowed over half a billion dollars to be laundered through its accounts. This wasn’t a minor oversight; it involved blatant violations of laws designed to prevent money laundering. The criminals didn’t even try to hide their actions. One man, Da Ying Sze, nicknamed "David," deposited more than $1 million in cash at a single branch in one day. Bank employees were so alarmed that one asked, “How is this not money laundering?” The response: “Oh, it 100% is.”

What Happened Next?

After years of investigation, the U.S. Department o...