Fwd: Your Freedom of Information Law (FOIL) Request FOIL-2023-095358-020881DFS Investigation Finds Robinhood Crypto Failed to Maintain Effective and Compliant BSA/AML and Cybersecurity Programs
---------- Forwarded message --------- From: <Joanne.Verdejo@dfs.ny.gov> Date: Fri, Nov 3, 2023, 1:22 PM Subject: Your Freedom of Information Law (FOIL) Request FOIL-2023-095358-020881 To: <G@xny.io> Good afternoon, Attached please find correspondence from the NYS Department of Financial Services, pertaining to your FOIL request. Thank you. Tracking Number:FOIL-2023-095358-020881 Re: FOIL Tracking No. 2023-095358 Dear Gunnar Larson: I write with respect to your above-referenced FOIL request. The New York State Department of Financial Services (DFS) requires additional time to respond to your request, assigned the tracking number 2023-095358, because we are still processing your request. DFS intends to provide its determination of your request by December 22, 2023. We appreciate your continued patience. Thank you. ---------- Forwarded message --------- From: <noreply@its.ny.gov> Date: Tue, Jun 27, 2023, 6:52 PM Subject: FOIL Request Confirmation from Open FOIL NY To: <G@xny.io> Thank you for submitting your FOIL request through Open FOIL NY. Here is your Open FOIL NY confirmation information for future reference: LARSON_DFS_20230627185237536 INFORMATION SUBMITTED: Records Requested From Department of Financial Services Short Title DFS Investigation Finds Robinhood Crypto Failed to Maintain Effective and Compliant BSA/AML and Cybersecurity Programs Description Dear Madam or Sir: On August 2, 2022 the Superintendent of Financial Services Adrienne A. Harris announced that Robinhood Crypto, LLC (“RHC”) would pay a $30 million penalty to New York State for significant failures in the areas of bank secrecy act/anti-money laundering (“BSA/AML”) obligations and cybersecurity that resulted in violations of the Department’s Virtual Currency Regulation (23 NYCRR Part 200), Money Transmitter Regulation (3 NYCRR Part 417), Transaction Monitoring Regulation (23 NYCRR Part 504), and Cybersecurity Regulation (23 NYCRR Part 500). xNY.io - Bank.org would like to receive any and all records related to NY-DFS' investigation of Robinhood Crypto. Including (but not limited to) records concerning the bespoke Supervisory Agreement Robinhood Crypto has with the Department of Financial Services mentioned here: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202208021. In addition, xNY.io - Bank.org seeks any and all records concerning New York's approach to Robinhood Crypto and Goldman Sachs compliance programs mandated by the United States Department of Justice, Criminal Division, Fraud Section and Money Laundering and Asset Recovery Section mentioned here: https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=d.... Finally, xNY.io - Bank.org seeks records concerning New York's regulatory approval of Robinhood Crypto engaging a fine of $30M to implement heightened controls and additional procedures and policies relating to electronic surveillance and investigation, due diligence on transactions or clients and the use of third-party intermediaries across business units; and enhancing anti-corruption training for all management and relevant employees. Warm regards, Gunnar Larson xNY.io - Bank.org 917-580-8053 Uploaded Files FOIL Response Format Email If fees apply, please contact me if costs will be greater than $10000 Your FOIL request has been forwarded to the organization(s) you selected, and the respective Records Access Officer will contact you directly for further processing of your request. Please allow up to five business days for such communication(s). For your convenience, here is additional contact information: Department of Financial Services One State Street 20th Floor New York, NY 10004
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Gunnar Larson