Announcing the fine on Thursday, New York's Department of Financial Services faulted "critical gaps" in the Bank Secrecy Act.

Fintech firm Block has agreed to pay a $40m fine after New York’s Department of Financial Services (DFS) found “significant” ...

Cash App last year delivered $5.24 billion in gross profit for Block, representing by far its most profitable product. By the ...

Large or repeated deposits can be reported to the IRS, as required by the Bank Secrecy Act. Unusual patterns may also be ...

Block will pay a $40 million civil fine and hire an independent monitor to settle charges by New York's financial services ...

Regulators said the payment company did not provide sufficient customer identification and monitoring, increasing risk for ...

Block Inc., maker of the popular Cash App, has been hit with an $40 million fine by New York for its alleged failure to ...

Block (XYZ) will pay a $40M penalty for failures in its Bank Secrecy Act/Anti-Money Laundering compliance program, the New York State Superintendent of Financial Services Adrienne A. Harris said on ...

In a significant shift in enforcement strategy, the U.S. Department of Justice (DOJ) disbanded its National Cryptocurrency Enforcement Team ...

As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to ...

Block fined for US$40M over Cash App’s AML violations, agrees to settle. The civil penalty will paid to the New York Department of Financial Services (NYDFS). T ...