M&T Bank (MTB) has been ordered to forfeit $560,000 that a teller laundered for drug traffickers.

The teller converted proceeds of illegal drug sales from small denominations to $100 bills in at least eight transactions, ranging from $20,000 to $100,000, without making the necessary reports, according to a complaint for forfeiture filed by the government in February. Banks are required by law to submit reports on any cash transaction in excess of $10,000.

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