TD Bank , a subsidiary of Canada 's Toronto - Dominion Bank , reportedly lent $ 500 m to a unit of Russian firm Prevezon Holdings , despite the latter firm 's connections to the largest tax fraud in Russian history . Under the Bank Secrecy Act, banks are required to report suspicious behavior to the US Treasury Department within 30 days of identifying the transaction. The loan was initially approved in 2012 , but before it completed , details about who owned Prevezon surfaced and the loan 's terms changed , according to documents viewed by BuzzFeed News . Although TD Bank launched an investigation , the report , which detailed Prevezon 's connections to the Russian government , was supposedly never acted upon and the loan was cancelled .
TD Bank , a subsidiary of Canada 's Toronto - Dominion Bank , reportedly lent $ 500 m to a unit of Russian firm Prevezon Holdings , despite the latter firm 's connections to the largest tax fraud in Russian history . The loan was initially approved in 2012 , but before it completed , details about who owned Prevezon surfaced and the loan 's terms changed , according to documents viewed by BuzzFeed News . Although TD Bank launched an investigation , the report , which detailed Prevezon 's connections to the Russian government , was supposedly never acted upon and the loan was cancelled .