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Payments company Block to pay $40 million fine in New York over compliance failures
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Payments company Block to pay $40 million fine in New York over compliance failures
Apr 10, 2025 7:02 AM

NEW YORK, April 10 (Reuters) - Block will pay a

$40 million fine to settle accusations the payments company had

significant failures in its anti-money laundering compliance

program and virtual currency compliance failures on its Cash App

platform, New York's financial services regulator said on

Thursday.

Adrienne Harris, New York's superintendent of financial

servicers, said Block will also hire an independent monitor to

oversee compliance improvements.

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