Block Inc fined $80 million for insufficient money laundering controls
Block Inc will pay an $80 million fine to 48 state financial regulators for inadequate anti-money laundering protocols in Cash App.
As part of the settlement, Block Inc will hire an independent consultant to review and report on its Bank Secrecy Act and anti-money laundering program. Additionally, the company has agreed to implement corrective actions internally, as announced by the Conference of State Bank Supervisors.
https://www.reuters.com/technology/state-regulators-fine-block-inc-80-million-anti-money-laundering-violations-2025-01-15/
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2025-01-16 14:06:22
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npub1hxjnw53mhghumt590kgd3fmqme8jzwwflyxesmm50nnapmqdzu7swqagw3Published at
2025-01-16 14:06:22Event JSON
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