10:55 AM EST, 02/27/2025 (MT Newswires) -- Toronto-Dominion Bank ( MLWIQXX ) has named Guidepost Solutions as the compliance monitor for its anti-money laundering program after a $3 billion penalty was imposed by US regulators last year, the company confirmed in an emailed response to MT Newswires on Thursday.

Guidepost Solutions will oversee TD Bank's US operations as part of a multi-year effort to repair and strengthen its controls, the company said, confirming an earlier Reuters report.

The monitoring costs will come from a $500 million fund set aside for compliance improvements, it added.

The remediation plan includes internal audits, regulator reviews, and the adoption of new technologies such as machine learning tools to detect suspicious activity, according to the company.

For later quarters in 2025, TD Bank plans to hire more analysts, upgrade transaction monitoring and client onboarding systems, and implement further enhancements in investigative procedures, the company added.

The bank is also executing US balance sheet restructuring to support customer needs while meeting regulatory asset limits, TD Bank said.

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