The Globe and Mail reports in its Friday edition that Canada's financial-crimes watchdog has fined Toronto-Dominion Bank $9.18-million after a compliance examination found the lender had faulty anti-money-laundering controls. The Globe's Rita Trichur writes that FinTRAC said Thursday it completed a compliance examination of TD Bank in 2023. Totalling more than $9.18-million, the administrative monetary penalty was imposed last month for five violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations. "As part of their regular review of Canadian financial entities, FinTRAC identified five specific administrative findings that require our attention," TD said in a statement. "Improvements have been made and more are under way." TD's anti-money-laundering practices are under scrutiny. TD is setting aside $450-million (U.S.) to cover penalties that it is facing as a result of lengthy regulatory and law enforcement probes in the United States. Those probes are tied to a $653-million (U.S.) money-laundering and drug-trafficking case. The final tally of the bank's U.S. penalties is still not known but some analysts estimate it could range as high as $2-billion (U.S.).