ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/block” target=”_blank”>Block will pay a $40 million fine to settle accusations the ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/payments” target=”_blank”>payments company had significant failures in its anti-money laundering compliance program and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/virtual-currency” target=”_blank”>virtual currency compliance failures on its ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/cash-app” target=”_blank”>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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