State regulators fine Block Inc $80 million for anti-money laundering violations

Quick Summary:

WASHINGTON : 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.

Block Inc logo is seen displayed in this illustration taken, April 10, 2023.

The company has also agreed to take corrective actions internally, according to the Conference of State Bank Supervisors, which announced the settlement.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Laundering Bank Experience Block Mediacorp Logo State Mobile Anti-money Settlement Agreed

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-16 @ 05:35:50 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 154 words

Reading Time: 1 minutes read

Sentences: 12 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 25182906

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 44 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 3 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #27

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