Jack Dorsey—Block fined $40 million by New York for Cash App anti-money laundering failures
In April 2025, New York state fined Block Inc. $40 million for anti-money laundering inadequacies and cryptocurrency compliance failures on its Cash App platform. The investigation found weak AML practices and inadequate monitoring of suspicious Bitcoin transactions. Block also separately agreed to pay $80 million to other state regulators for similar compliance deficiencies.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Consumer Protection | -against | primary | -1.00 |
| Corporate Governance | -against | secondary | -0.50 |
| Overall incident score = | -0.322 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.57)× agency (negligent ×0.5)
Evidence (1 signal)
New York fined Block $40 million for Cash App AML and crypto compliance failures
Claims Journal reported Block was fined $40 million by New York for anti-money laundering inadequacies and cryptocurrency compliance failures. The investigation revealed weak AML practices and inadequate monitoring of suspicious Bitcoin transactions. Block separately agreed to pay $80 million to other state regulators.