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U.S. Seizure of Russian-Flagged Tanker Heightens Global Tensions

The ship, currently between Iceland and the British Isles, has been accused of breaking US sanctions and shipping Iranian oil. It has historically transported Venezuelan crude oil. The United States has seized a Russian‑flagged oil tanker linked to Venezuela after a prolonged pursuit across the Atlantic, marking one of the most assertive enforcement actions under Washington’s sanctions program. The vessel, previously known as Bella‑1 and later renamed Marinera , was intercepted after evading an earlier boarding attempt near Venezuelan waters. U.S. military aircraft and naval units tracked the ship for weeks as it traveled across the Atlantic, at times shadowed by Russian naval vessels. Officials say the tanker was part of a network used to transport sanctioned Venezuelan and Russian oil. Its capture underscores Washington’s efforts to disrupt what it describes as illicit energy shipments that help sustain both governments. The operation comes at a delicate geopolitical moment, wit...
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TD Bank Fined $3 Billion for Money Laundering Violations

 


Toronto-Dominion Bank (TD Bank) has agreed to pay a staggering $3 billion in fines after pleading guilty to multiple charges of money laundering and failing to maintain an adequate anti-money laundering program. This historic settlement marks the largest penalty ever imposed under the U.S. Bank Secrecy Act.

The charges stem from TD Bank’s failure to monitor and report suspicious activities, which allowed drug traffickers and other criminals to launder significant sums of money through the bank’s accounts. U.S. authorities revealed that TD Bank employees were bribed to facilitate these illegal transactions, with over $670 million being laundered through the bank over several years.

In addition to the financial penalties, TD Bank will face an asset cap, limiting its growth in the U.S. market. The bank has also committed to enhancing its compliance programs to prevent future violations.

Bharat Masrani, CEO of TD Bank Group, issued an apology, acknowledging the bank’s failures and pledging to make necessary changes to restore trust and compliance.

This case serves as a stark reminder of the importance of robust anti-money laundering measures and the severe consequences of neglecting them.


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