Block, Inc. $80 Million AML Settlement

The episode discusses the recent settlement agreement between Block Inc. (Cash App) and 48 US states concerning Anti-Money Laundering (AML) failures. Block will pay an $80 million penalty and implement improvements to its AML program, overseen by an independent consultant and a committee of state regulators. The agreement resolves concerns about potential illicit use of Cash App, without Block admitting wrongdoing. The settlement is publicly available, and details of the remediation plan are outlined in the agreement. State regulators retain jurisdiction over Block's future AML compliance.🎧 Tune in now for expert insights and get actionable strategies for your organization. Follow The Compliance Officers Playbook show/page and tap the (🔔) for 𝐝𝐚𝐢𝐥𝐲 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐭𝐫𝐞𝐧𝐝𝐬, 𝐚𝐧𝐝 𝐦𝐨𝐫𝐞. If you enjoyed this episode, we’d love to hear from you! Follow us to stay updated on future episodes, and don’t forget to leave a review and rating ⭐️⭐️⭐️⭐️⭐️Your feedback helps us improve and reach more listeners like you. Thank you for your support! ❤️🙏

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