TORONTO — TD Bank Group swung to a profit in its latest quarter compared to last year as it continues to restructure and recover from anti-money laundering failures.

"This quarter, we made significant progress on our U.S. balance sheet restructuring. We completed the investment portfolio repositioning announced last October and achieved our targeted 10 per cent asset reduction," Raymond Chun, TD's chief executive officer, said on an earnings call Thursday.

"The bank also continued to prioritize and execute on our (anti-money laundering) remediation."

It completed a number of remediation efforts including implementing new anti-money laundering tools, improved investigative capabilities and a newly launched transaction monitoring platform.

“This quarter, we deployed our first machine lea

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