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

[Gunnar Larson]

---------- Forwarded message ---------
From: <Joanne.Verdejo at 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 at 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 at its.ny.gov>

Date: Tue, Jun 27, 2023, 6:52 PM

Subject: FOIL Request Confirmation from Open FOIL NY

To: <G at 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=drivesdk.
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

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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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