Ripple Hiring Expert to Investigate Unusual Activity on XRP Ledger

Ripple is looking to hire an expert to investigate and monitor the XRP Ledger and probe suspicious activity.

The person who fills Ripple’s new investigations analyst opening will join Ripple’s Bank Secrecy Act (BSA) compliance team, according to a job post. Among other responsibilities, the analyst will be required to “identify any existing gaps and make recommendations to enhance the suspicious activity reporting process and other [anti-money laundering] related controls.”

The analyst will also conduct the day-to-day monitoring of the XRP ledger, perform transaction analysis, and file relevant reports with regulatory and law enforcement agencies.

Passed in 1970, the BSA established requirements for financial institutions to help the US government prevent money laundering.

Although Ripple will investigate matters connected to the XRP ledger if requested, the company notes that the transactions are irreversible.

“Ripple does not own the XRP ledger and the users of the XRP ledger are not customers of Ripple. Therefore Ripple does not have the power to reverse transactions, even in the case of a reported financial loss (ex: theft).”

By submitting a request to Ripple, the company says consumers are effectively giving the company permission to report the matter to US lawmakers at the federal, state, or local level.

Ripple is also currently advertising for a due diligence specialist to join its Bank Secrecy Act compliance team.

The San Francisco-based global payments startup has dealt with numerous scams related to XRP. In February, Ripple launched a new portal designed to give investors a way to report malicious activity connected with the XRP Ledger.

The startup, known for its high turnover, is currently advertising for 20 open positions in total.

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