TD Bank Group President and CEO Bharat Masrani said that his institution has identified its shortcomings in anti-money laundering surveillance and is working to address them.

During a first-quarter earnings conference call, Bharat Masrani said that the Bank is continuing to mobilize the resources needed to build capacity. According to him, the bank is accelerating its investments in its risk and control infrastructure and has hired hundreds of colleagues in these areas over the course of of the last two quarters. TD is increasing annual spending by hundreds of millions of dollars to fill these gaps. According to CFO Kelvin Tran, much of the savings expected by the bank through a restructuring, which included a reduction of around 3% in staff, will likely be spent on