United States of America: State financial regulators reached settlement agreement with Block over alleged non-compliance with anti-money laundering requirements
Description
State financial regulators reached settlement agreement with Block over alleged non-compliance with anti-money laundering requirements
On 15 January 2025, 48 state financial regulators signed a settlement agreement and consent order resolving compliance concerns with Block's anti-money laundering (AML) programme under the Bank Secrecy Act. The agreement follows a multi-state examin…
Scope
Policy Area
Consumer protection
Policy Instrument
User identification requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body