TD Bank closed accounts over money laundering concerns

TD Bank closed accounts of a pro-Beijing organization and former Liberal MP Han Dong, citing concerns about possible money laundering and suspicious financial activities. The bank flagged the Confederation of Toronto Chinese Canadian Organizations (CTCCO) to Canada's financial watchdog, FINTRAC, after identifying potential money laundering. Han Dong's joint account was closed without explanation, and his wife had received a large cheque from CTCCO's executive director. The debanking occurred after Dong left the Liberal caucus amid allegations of advising the Chinese consulate. The CTCCO has ties to the Chinese government, and the bank's actions raise questions about foreign interference.