By Aaron Nicodemus2022-08-02T18:27:00
Robinhood Crypto (RHC) agreed to pay a $30 million fine to the New York State Department of Financial Services (NYDFS) for “significant failures” in its Bank Secrecy Act/anti-money laundering (BSA/AML) and cybersecurity compliance programs.
The NYDFS announced Tuesday that over several years, Robinhood’s BSA/AML program was inadequately staffed; failed to transition from a manual transaction monitoring system unfit for the firm’s size, customer profiles, and transaction volumes; and did not devote sufficient resources to addressing risks unique to the company.
Similarly, Robinhood’s cybersecurity program did not adequately address the risks of a potential breach and was not in full compliance with the NYDFS’s cybersecurity regulations.
2024-01-18T20:54:00Z By Kyle Brasseur
Online stock trading platform and broker-dealer Robinhood Financial agreed to pay a $7.5 million fine as part of a settlement with the Commonwealth of Massachusetts addressing claims related to “gamification” of its platform and cybersecurity issues that lent to a 2021 data breach.
2023-08-10T15:08:00Z By Jeff Dale
Online brokerage Robinhood Markets disclosed in a quarterly filing it is under investigation regarding the quality of its brokerage execution.
2023-05-25T17:16:00Z By Adrianne Appel
Mortgage servicer OneMain Financial Group will pay $4.25 million to settle allegations it left customer information vulnerable to cyberattacks by failing to implement required controls under New York’s cybersecurity law.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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