NEWARK—New Jersey led the nation in federal enforcement recoveries in fiscal year 2025, but newly released data shows the record-setting total was driven largely by a single major banking case.
The U.S. Attorney’s Office for the District of New Jersey announced Thursday that it collected more than $1.5 billion in criminal and civil actions during the fiscal year, the highest of any federal district in the country.
A closer examination of the figures shows that the majority of that total stems from a large anti-money laundering enforcement action involving TD Bank.
A Record Year — Concentrated in One Case
According to the office, $1.507 billion was recovered in fiscal year 2025, including roughly $1.45 billion from criminal actions and about $57.7 million from civil enforcement. The district also reported more than $348 million in asset forfeiture, ranking second nationwide.
The fiscal year 2025 total represents a significant increase compared to prior years. In fiscal year 2023, the District of New Jersey reported collecting approximately $214 million. The jump highlights how a single large corporate case can reshape annual enforcement totals rather than reflect a uniform increase across all categories.
More than $1.43 billion in fines, along with over $328 million in criminal forfeiture, came from TD Bank and its U.S. holding company alone. That concentration means a single corporate case accounts for the vast majority of the district’s reported collections, illustrating how large-scale enforcement actions can significantly influence annual federal totals. The reported $348 million in asset forfeiture includes funds tied to multiple cases, though the TD Bank matter represents the overwhelming share of that figure.
The TD Bank Case
The TD Bank matter stems from a federal investigation into systemic anti-money laundering failures. In October 2024, TD Bank became the largest bank in U.S. history to plead guilty to violations of the Bank Secrecy Act and the first U.S. bank to plead guilty to conspiracy to commit money laundering, according to the U.S. Department of Justice.
Federal officials said the bank’s compliance failures allowed illicit funds to move through the financial system undetected, prompting one of the most significant bank enforcement actions in recent years. The case resulted in a combined financial resolution of approximately $1.8 billion across multiple federal regulators.
Beyond the Headline Number
While the TD Bank case dominates the fiscal year totals, the U.S. Attorney’s Office pointed to additional enforcement activity across fraud and civil enforcement matters. One such case involved civil forfeiture action recovering nearly $7 million tied to fraudulent Paycheck Protection Program (PPP) loans, along with a residential property valued at more than $2 million. Another, a $13 million False Claims Act settlement, involved companies accused of improperly obtaining PPP loans. The office also reported collecting approximately $154.9 million in joint cases with other Department of Justice components.
Outside of the TD Bank resolution, the remaining recoveries reflect a more typical mix of fraud enforcement, forfeiture actions, and civil settlements.
Not all recovered funds go directly to victims. Under federal law, criminal fines and penalties are deposited into the Department of Justice’s Crime Victims Fund, which supports compensation and assistance programs. Asset forfeiture proceeds are directed to the DOJ Assets Forfeiture Fund and may be used for law enforcement purposes or, in some cases, to compensate victims.
Leadership, Messaging, and the Bigger Picture
In announcing the results, U.S. Attorney Robert Frazer emphasized the office’s commitment to financial enforcement and accountability.
“As our fiscal year 2025 results demonstrate, the District of New Jersey is dedicated to holding defendants accountable for their wrongdoing,” Frazer said.
At the same time, the data indicates that the district’s top national ranking was driven primarily by the scale of a single enforcement action rather than a broad increase across all enforcement areas.
New Jersey’s No. 1 ranking underscores the role federal districts can play in major national enforcement actions, particularly when large corporate cases fall within their jurisdiction. The fiscal year 2025 results also illustrate a broader pattern in federal enforcement data: annual totals can vary significantly depending on the timing and scale of a small number of high-value cases.
Sources
• U.S. Attorney’s Office, District of New Jersey, “U.S. Attorney’s Office Collects More than $1.5 Billion in Criminal and Civil Actions in Fiscal Year 2025, the Most in the Country” (April 9, 2026)
• U.S. Department of Justice, “United States of America v. TD Bank, N.A.” (October 10, 2024)
• Financial Crimes Enforcement Network (FinCEN), “FinCEN Assesses Record $1.3 Billion Penalty against TD Bank” (October 10, 2024)
• Office of the Comptroller of the Currency (OCC), “OCC Issues Cease and Desist Order, Assesses $450 Million Civil Money Penalty, and Imposes Growth Restriction Upon TD Bank, N.A. for BSA/AML Deficiencies” (October 10, 2024)
• U.S. Attorney’s Office, District of New Jersey, PPP-related releases (2025)