Cash App's Parent Company Block Inc. to Pay $80 Million Over Anti-Money Laundering Deficiencies
Block Inc., owner of Cash App, has agreed to an $80 million settlement due to anti-money laundering compliance failures between 2018 and 2021. This comes after an investigation highlighted the company's insufficient customer due diligence and inadequate transaction monitoring. No direct compensation for users, but they can expect improved security measures and fraud detection.
Jan 17