Robinhood Crypto anticipates $10M penalty for cyber, AML failures
By 
Jaclyn Jaeger2021-07-07T18:26:00
Robinhood Markets said its cryptocurrency platform might face a penalty of “at least” $10 million from the New York State Department of Financial Services for anti-money laundering and cyber-security failures.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
ArticleRobinhood Crypto fined $30M for AML, cybersecurity failures
Robinhood Crypto agreed to pay a $30 million fine to the New York State Department of Financial Services for “significant failures” in its Bank Secrecy Act/anti-money laundering and cybersecurity compliance programs.
-
ArticleRobinhood data breach impacts 7 million customers
Robinhood announced a hacker obtained the email addresses or names of approximately seven million of its customers. Approximately 310 customers had their personal information exposed as part of the same breach.
-
ArticleRobinhood touts crypto wallet offering, hires new CCO
Fintech firm Robinhood has hired a new chief compliance officer at its cryptocurrency arm ahead of the first round of testing for its cryptocurrency wallet offering.
More from Regulatory Enforcement
-
ArticleCFTC sues states to assert exclusive jurisdiction over prediction markets
The Commodity Futures Trading Commission filed lawsuits against Arizona, Connecticut, and Illinois last week over the jurisdiction of prediction markets, which have gained popularity in the past year.
-
ArticleCMA holds companies responsible for false claims, fake reviews ‘throughout supply chain’
Companies face large fines if they spread false marketing claims or fake reviews about their products and services—as well as those by suppliers—under a toughened competition regime in the U.K. aimed at enhancing consumer protection.
-
ArticleFTC warns VISA and other processors that company policies may lead to debanking
Visa, Mastercard, PayPal, and Stripe have received letters from the Federal Trade Commission, warning the companies to end any policies or terms of service that may result in the “debanking” of customers.