Oregon will get a $1.6 million share of an $80 million fine that Cash App parent company Block will pay for violations of bank secrecy and anti-money laundering laws.

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Portland

Multnomah County

Oregon

United States

Cash App parent will pay $255 million in bank secrecy and fraud settlement, Oregon will get a share

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Vermont regulators announced Thursday they have joined 47 other states in enforcement action against Block Inc. over alleged violations of its Cash App product.

WCAX-TV

Gray Television

Burlington

Chittenden County

Vermont

Vt. joins $80M enforcement against Cash App parent company

NORTH DAKOTA (KXNET) — The North Dakota Department of Financial Institutions has joined 48 other state financial regulatory agencies in taking action against Block Inc., a financial service firm, for violations of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws. Block signed a multistate settlement this week agreeing to pay an $80 million penalty to the state agencies, hire an independent consultant to review its BSA/AML program,…

KX NEWS

North Dakota

ND Department of Financial Institutions joins settlement against Block Inc. Cash App

Block has agreed to pay an $80 million fine and undertake corrective actions to resolve a coordinated enforcement action by 48 state financial regulators that alleged the company violated Bank Secrecy Act (BSA) and anti-money laundering (AML) laws. The enforcement action centered on Block’s mobile payment service, Cash App, the Conference of State Bank Supervisors said in a Wednesday (Jan. 15) press release. In addition to paying the assessed pe…

PYMNTS.com

Block to Pay $80 Million to Settle AML Violation Allegations

Block, the parent company of Cash App, has agreed to pay an
$80 million fine as part of a settlement with 48 state financial regulators
over violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML)
regulations. The state regulators found that Block failed to meet certain
customer due diligence requirements, potentially allowing its services to be
used for money laundering or terrorism financing. Block to Refund $120 Million, Pay …

Finance Magnates | Financial and business news

CFPB Orders Block to Pay $255 Million for "Compliance and Fraud Failures"

(Des Moines, Iowa) – The Iowa Division of Banking and 47 state financial regulatory agencies have taken coordinated action against Block, Inc., for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use.  More than 50 million consumers in the United States use Cash App, Block’s mobile payment service, to spend, send, store, and invest money. In the multistate settlement sign…

KJAN

Iowa Division of Banking Joins $80 Million Enforcement Action Against Block, Inc., Cash App for BSA/AML Violations

An SEC investigation of LPL Financial led to an $18 million fine on findings that the firm failed to enforce anti-money laundering rules for wealth management companies

Financial Planning

LPL to pay $18M settlement in 4th AML case over past 10 years

Illinois and 47 state financial regulatory agencies have taken coordinated action against Block Inc. for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use. More than 50 million consumers in the United States use Cash App, Block’s mobile payment service, to spend, send, store, and invest money. “This enforcement action demonstrates the Illinois Department of Financial an…

Illinois Business Journal

Illinois joins $80M enforcement action against Cash App mobile payment service for BSA/AML violations

The parent company of Cash App has been ordered to pay up to $120 million to fraud victims, in addition to a $55 million penalty. Here's what to know.

Cash App parent will pay $255 million in bank secrecy and fraud settlement, Oregon will get a share

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