Block to Pay $80 Million to Settle AML Violation Allegations
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Block has agreed to pay an $80 million fine to settle allegations of violating Bank Secrecy Act and anti-money laundering laws, as part of a coordinated enforcement action by 48 state financial regulators.
January 16, 2025 | 12:45 am
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Block, trading under the symbol SQ, will pay an $80 million fine to settle allegations of violating BSA and AML laws. This settlement involves corrective actions and was coordinated by 48 state financial regulators.
The $80 million fine and the need for corrective actions indicate significant regulatory scrutiny, which could negatively impact investor sentiment and the stock price in the short term. The involvement of 48 state regulators highlights the seriousness of the allegations.
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