Gerardo Fermin Aquino Vargas, a former employee of a TD branch in Hollywood, Fla., allegedly took a series of US$200 bribes to help clients move millions of dollars from the U.S. to Colombia while skirting the bank’s anti-money-laundering rules, according to a March court document, first reported by Bloomberg. TD supported U.S. law enforcement in “their work to bring these criminals to justice,” said spokesperson Lisa Hodgins in a statement. (The Logic)

Talking point: The case is one of four in the U.S. alleging serious misconduct by TD Bank employees and failure of the institution’s anti-money-laundering controls. The largest is a US$653-million drug case in which multiple banks, including TD, allegedly took cash deposits from a fentanyl ring and helped to move the money abroad. TD has put aside US$450 million against future fines and could face total penalties of US$2 billion. Hodgins said TD has held bank leaders accountable for its anti-money-laundering failures and is working to improve the program.