ADVERTISEMENT

Business

TD Worker Fighting Money Laundering Accused of Stealing Data

Peter Routledge, Superintendent of Financial Institutions, joins us to talk about OSFI expresses concern over TD Bank's guilty plea.

(Bloomberg) -- A former Toronto-Dominion Bank employee in its anti-money-laundering department was charged with stealing customer information and distributing it on a Telegram channel, Manhattan District Attorney Alvin Bragg said.

Daria Sewell, 32, worked at the bank from 2023 until May 2024 and had access to personal customer information, prosecutors said. A search of Sewell’s phone found images of 255 checks belonging to customers, along with other personal information of nearly 70 others, including their names, addresses and social security numbers, prosecutors said. 

Investigators also determined that after taking the data, Sewell distributed it on Telegram to others who she instructed to open bank accounts to deposit the checks and split the profits with others, prosecutors said. 

Sewell’s case is part of a larger investigation, in which five other people have been charged, into a check-fraud scheme that stole nearly $500,000. Sewell faces a charge of one felony count of unlawful possession of personal information, which carries a potential prison term of as long as four years.

Sewell’s lawyer, Lawrence Fisher, declined to comment. 

TD Bank said in a statement that Sewell was “terminated and we have cooperated fully with authorities in the matter.”

TD Bank last month said it would pay almost $3.1 billion in fines and other penalties and face a cap on its US retail banking assets, after pleading guilty to US charges it failed to prevent money laundering by drug cartels and other criminals. 

The bank failed for a decade to root out suspicious activities as required under the Bank Secrecy Act, the main anti-money-laundering law, according to the US Justice Department. It became the largest bank in US history to plead guilty to violating that law, and the first bank to plead guilty in the US to conspiracy to commit money laundering, Attorney General Merrick Garland said when he announced that case. 

--With assistance from Melissa Shin and Christine Dobby.

(Adds TD Bank statement in sixth paragraph.)

©2024 Bloomberg L.P.