The decision comes less than a year after the DOJ sentenced Binance CEO Changpeng Zhao to four months in prison.

Attorney General Merrick Garland said the Canada-based bank “created an environment that allowed financial crime to flourish.”

The TD Bank settlement is a historic event in many ways, including penalties from three different government entities. Read on to learn five high-value facts about the scandal.

TD Bank is the biggest bank to plead guilty to Bank Secrecy Act violations. The Bank Secrecy Act which was enacted in 1970 to combat money laundering requires banks to establish and maintain programs that guard against money laundering.

TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, a source with knowledge of the settlement told CNN.

TD Bank agreed to pay about $3 billion in fines to U.S. authorities and pleaded guilty on Thursday to money-laundering-related charges in a case brought by federal prosecutors, who said the Canadian bank made it “convenient” for criminals to open accounts, transfer funds and even deposit seven-figure sums of cash at its branches.

TD Bank will pay more than $3 billion in penalties after admitting to failing to adequately guard against money laundering, officials said.

Two US subsidiaries of Canada’s second-biggest bank agreed last week to pay $3 billion US in fines, pleading guilty to conspiring to money laundering in the United States and giving the bank a huge black eye.