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Block Gets a $40M Wake-Up Call over Compliance Failures
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Subscribe14 APR 2025 / BUSINESS
Block Inc., the fintech company owned by Jack Dorsey, has been fined $40 million for allowing 169,000 suspicious alerts, including Bitcoin transactions linked to terrorism and accounts tied to a Russian criminal network, to go unnoticed on its payment platform, Cash App. The New York Department of Financial Services has ordered the company to implement stronger anti-money laundering measures and hire an independent monitor to ensure compliance over the next year.
Jack Dorsey’s fintech empire, Block Inc., just got struck with a $40 million fine. Yep, you read that right. And no, this isn't a headline out of a cybersecurity thriller — it’s real life. The culprit? Cash App, the platform that’s making waves in the pay...
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