The crypto unit of the world-famous investment platform Robinhood was fined $ 30 million by the New York financial regulator for not complying with KYC / AML standards.
New York Department of Financial Services (NYDFS) August 2 in his statement on Robinhood Crypto LLC’s anti-money and cyber security in carrying out the procedures unsuccessful stated that. Also, by the department, Robinhood was accused of violating the procedures. 30 million dollars fined.
to 15.9 million users well-known investment platform Robinhood, July 2021 About this investigation process, which he announced to the public in 10 million dollars He expected to get rid of with a punishment like that. However, he will apply the regulations of NYDFS during the reconciliation process. committing company in this unsuccessful fined $30 million for being removed. For the company to check whether it complies with the regulations in the next process. must agree with an independent auditor.
NYDFS, in its disclosures regarding the investigation, is committed to delivering on Robinhood’s commitments during the audit. Administration at the level and rapport He stated that they noticed that there were important deficiencies in the department. by the department, fight against black money in the program lack of staff that the company to the volume and to growth momentum have a suitable program not expressed. Cyber security On the other hand, the operational risks of the company not adequately addressed and its policies with NYDFS cryptocurrency policies not compatible stated. In addition, the lack of any contact number on the platform’s website was also included as a deficiency in the evaluations of NYDFS.
NYDFS Chief Inspector Adrienne Harris in a statement that DFS is not owned by any business. violation of regulations in case of investigations and sanctions. will also continue to counter these situations. precautionary work announced that they were doing it.