Regulatory Alerts2025-01-16
Block, Inc. Settlement Agreement and Consent Order
State money transmission regulators from multiple jurisdictions have entered into a Settlement Agreement and Consent Order with Block, Inc. to resolve enforcement concerns regarding its Bank Secrecy Act and Anti-Money Laundering Program. The agreement addresses findings from a multi-state examination conducted between January 2021 and March 2023, which identified deficiencies in Block's compliance controls. Block neither admits nor denies wrongdoing but agrees to the order to resolve disputes and enhance its regulatory compliance framework.
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