Article: Robinhood said it expects to pay a $30 million fine as part of anti-money laundering probe of its crypto business

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Robinhood said it expects to pay a $30 million fine as part of anti-money laundering probe of its crypto business

Matthew Fox, 20 July 2021

Robinhood said it expects to pay a $30 million penalty in relation to an anti-money laundering probe of its cryptocurrency business, according to an amended S-1 filed with the SEC on Monday.

The online trading app said that in July of 2020, the New York Department of Financial Services said Robinhood’s crypto unit had a number of “matters requiring attention,” primarily focused on anti-money laundering and cybersecurity-related issues. Continue reading “Article: Robinhood said it expects to pay a $30 million fine as part of anti-money laundering probe of its crypto business”

Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

Article - Media

Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

Syed Ahad, 08 July 2021

Anti-Money Laundering Issues Robinhood Crypto to Pay $15M fine Over Security to resolve a legal dispute with NYDFS (New York State Department of Financial Services) over charges related to crypto unit’s handling of cybersecurity and anti-money laundering.

The $15 million fine by New York State is the newest in a series of consequences to hit Robinhood. It also highlights the governing risk of operating in the crypto circle. Continue reading “Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine”