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N.Y. Financial Services Dept.: Superintendent Adrienne A. Harris Secures $40 Million Settlement With Block, Inc. for Inadequate Anti-Money Laundering Program and Virtual Currency Compliance Failures on Cash App Platform
April 11, 2025
ALBANY, New York, April 11 -- The New York State Department of Financial Services issued the following news release on April 10, 2025:

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Superintendent Adrienne A. Harris Secures $40 Million Settlement with Block, Inc. for Inadequate Anti-Money Laundering Program and Virtual Currency Compliance Failures on Cash App Platform

DFS Investigation Found Insufficient Customer Identification Procedures and Transaction Monitoring Led to Increased Money-Launderin . . .

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