Md. Labor Dept.: Maryland Office of Financial Regulation Joins $80 Million Enforcement Action Against Block, Cash App for Violating Bank Secrecy Act, Anti-Money Laundering Laws
January 29, 2025
January 29, 2025
BALTIMORE, Maryland, Jan. 29 -- The Maryland Department of Labor issued the following news release on Jan. 28, 2025:
The Maryland Department of Labor's Office of Financial Regulation and 47 other state financial regulatory agencies reached a settlement with Block, Inc., for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use. More than 50 million consumers in the United States use Cash App, Block's . . .
The Maryland Department of Labor's Office of Financial Regulation and 47 other state financial regulatory agencies reached a settlement with Block, Inc., for violations of Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use. More than 50 million consumers in the United States use Cash App, Block's . . .