Cash App Owner Block Pays $40M in Settlement Over Major Compliance Failures
April 10, 2025
Block Inc., the parent company of the popular payment platform Cash App, has agreed to pay $40 million to settle allegations of serious compliance deficiencies. Federal regulators found that the company failed to maintain an effective anti-money laundering program, raising concerns about the risk of illicit financial activity going undetected.
Read more to understand what led to the fine, how Block is responding, and what it means for the future of digital payments.
Cash App owner Block pays $40 million in settlement over ‘serious compliance deficiencies’