SoFi Brokerage Division to Pay $1.1M FINRA Fine for Alleged Fraud Prevention Failures
SoFi’s (NASDAQ: SOFI) brokerage division will be required to pay a $1.1 million penalty to the Financial Industry Regulatory Authority (FINRA) for alleged fraud detection shortcomings which reportedly enabled fraudsters to create SoFi Money accounts by using fake or stolen identities online. SoFi Securities allegedly… Read More
Read more in: Fintech, Politics, Legal & Regulation | Tagged enforcement, fake ids, finra, fraud, sofi