Ripple News Today – Ripple Starts Hiring Professionals to Investigate Possible Illegal Activities on XRPL – September 5th, 2020

  • Ripple Posts Job Ads for Experts Who Will Investigate Unusual and Possible Illegal Activity on the XRP Ledger
  • Ripple XRP Continues to Decline as Bitcoin and other Currencies Fall

Ripple News Today – Cybercrime is one of the most significant drawbacks of the digital world. While the internet comes with many great advantages, it has been difficult to curb scammers who look for different ways to dupe people of their hard-earned money or steal their identities. Financial crimes became even more common with the invention of cryptocurrencies. Since cryptocurrencies are typically decentralized and unregulated, it’s easier for people to get away with fraud and financial crimes. Recently, Ripple-related scams have been more common than ever in the cryptocurrency industry. Ripple has tried to educate the public and teach them how to protect themselves from fraudsters. Now, they’ve decided to take things to another level.

Ripple News Today – Ripple Takes Scam Prevention to Another Level

To protect trustworthy members of the Ripple community from fraudsters, Ripple has decided to take things to another level by hiring people to investigate the increase in XRP-related scams. Among other things, the qualified candidate will investigate the unusual activity on the XRP Ledger. They will join Ripple’s Bank Secrecy Act (BSA) compliance team. Part of the posting was as follows; “identify any existing gaps and make recommendations to enhance the suspicious activity reporting process and other [anti-money laundering] related controls.”

XRP Price Prediction 2020 – Ripple XRP Price Prediction 2020

The individual will also monitor the XRP Ledger daily, the role reports with the authorities, and perform transaction analysis to ensure that everything happens well. The BSA was passed in 1970 and it established requirements for all financial institutions in the United States. The goal of the BSA is to prevent money laundering. Investigating these activities on the XRP Ledger wouldn’t do much for an XRP holder that is swindled. This is because these transactions are not reversible. Ripple made this clear.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.443
-6.03%

 

“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).”

XRP Price Prediction – Ripple XRP Continues to Decline as Bitcoin and other Currencies Fall

In other news, the XRP token is cutting it close to the resistance at $0.22. At the time of writing, the price of the token was $0.242979. It is down by 3.97% against the USD and down by 0.98% against Bitcoin BTC. The trading volume over a 24 hour period was $1,862,475,557 and the market capitalization was $10,936,794,652. The token isn’t falling in isolation. Bitcoin BTC, Ethereum ETH, and almost every other token are stuck in a bearish trendline.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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