06:27 AM EST, 12/11/2024 (MT Newswires) -- Two U.S. senators are pressing TD Bank (TD.TO, TD) to disclose what its executives and employees knew about a Chinese money laundering ring that succeeded in moving more than $470 million in funds from drug sales through the bank, The Wall Street Journal is reporting.

Sen. Ron Wyden (D., Ore.) and Sen. Elizabeth Warren (D., Mass.) are asking TD Bank for information about the conduct of its employees in relation to a years long money laundering scheme by a Flushing, Queens-based man named Da Ying Sze, according to a letter reviewed by The Wall Street Journal.

The letter to TD Bank Chief Executive Bharat Masrani was dated Monday.

A spokeswoman said TD Bank was continuing to cooperate with prosecutors in ongoing investigations into individuals who laundered money through the bank.

"We appreciate the concerns expressed by Senators Warren and Wyden," the spokeswoman said. "TD has taken full responsibility for its AML [anti-money-laundering] program failures and is making significant investments and enhancements to meet regulatory obligations and help protect the financial system."

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