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Block will pay $80M fine to state financial regulators
US state regulators fine Block Inc $80 million for insufficient money laundering controls
Block Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators after the agencies determined the company had insufficient policies for policing money laundering through its mobile payment service,
State Regulators Issue $80 Million Penalty to Block, Inc., Cash App for BSA/AML Violations
In a coordinated enforcement action by 48 state financial regulators, Block, Inc. will pay an $80 million fine and undertake corrective action for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.
Block will pay $80M fine to state financial regulators over AML law violations
Block (NYSE:SQ) has agreed to an $80M settlement with 48 state financial regulators who found that one the company's payment ecosystems, Cash App, lacked adequate anti-money laundering measures, according to a statement issued on Wednesday.
State regulators fine Block Inc $80 million for anti-money laundering violations
Block, Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators for violations of anti-money laundering laws through its mobile payment service, Cash App. The multi-statement settlement would also see the fintech firm bring in an independent consultant to review its Bank Secrecy Act and anti-money laundering program,
Hoodline
8h
Block, Inc. Settles for $80 Million Amid Nationwide Crackdown on Bank Secrecy Act Violations
Block, Inc. faces a joint crackdown by the DCCA and 47 states for BSA/AML violations, incurring an $80 million penalty and ...
18h
on MSN
House Dems threaten to block Trump's big tariff plans: 'Unacceptable'
A group of House Democrats is pushing to block President-elect Donald Trump from being able to impose his sweeping plan for ...
19h
Automaker group files lawsuit to block US automatic emergency braking rule
A group representing major automakers on Friday said it filed lawsuit to block a landmark rule from the administration of ...
Hoodline
12h
Block's Cash App Ordered to Pay $175 Million by CFPB Over Fraudulent Transaction Handling
Cash App's parent company Block must pay up to $175 million after a CFPB crackdown on fraudulent transaction handling.
2d
on MSN
Los Angeles wildfires: Altadena resident stunned to find home was only one left standing on his block
An Altadena resident captured a stunning video showing his home as the only one left standing following the devastating Eaton ...
10h
on MSN
Judge appears likely to block release of classified docs final report to Congress
A judge is hearing arguments Friday on whether members of Congress will be permitted to view Jack Smith's final report on ...
16h
on MSN
Buccaneers Star WR Receives Team's Ed Block Courage Award
Tampa Bay Buccaneers wide receiver Mike Evans is beloved by both the team itself and the community of Bucs fans everywhere.
16h
on MSN
Unused university teaching block to be demolished
Plans to demolish a former university teaching block have been approved for a second time. The University of Sunderland ...
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