Robinhood is looking to hire several sanctions investigators for its financial crimes enforcement unit as it may be expanding its offerings, according to its official Linkedin page.

The job description includes reviewing and analyzing alerts of potential matches from Robinhood clients to denied parties, managing the investigative process from initial detection through disposition and reporting, annotating findings that provide evidentiary evidence, and a final decision, escalating any matches that cannot be resolved to Sanctions. Management of the investigation and also any certain positive coincidence to the Sanctions Office.

Robinhood is an independent wallet app that offers brokerage services and allows users to exchange and trade cryptocurrencies without network fees.

According to reports, App Brokerage’s hiring of sanctions investigators could be related to the company’s upcoming launch of self-custody wallets, which will be officially launched in the coming months.

According to the job posting, the position requires more than two years of experience working in financial crime investigation and more than one year investigating cryptocurrency transactions. While not required, “Chainalysis experience” is welcome.

In August, the New York Department of Financial Services imposed a $30 million fine on the app firm Brokerage (NYDFS).

As reported by Blockchain.News, the sanctions came as the regulator found that Robinhood Crypto violated several existing regulations, including the Bank Secrecy Act (BSA), anti-money laundering (AML) violations, deficiencies in transaction monitoring and lack of provisions for cybersecurity regulation.

The regulator noted that it discovered the flaws behind the sanction in Robinhood Crypto’s operating models following a supervisory examination and subsequent investigation.

Financial Services Superintendent Adrienne A. Harris stated that as the brokerage firm grew, it failed to “invest adequate resources and attention to develop and maintain a culture of compliance, a failure that resulted in significant regulatory violations.” against money laundering and cybersecurity regulations”.

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