Sarah Wynn / The Block:

Block reaches a $40M settlement with NYDFS for critical gaps in its AML program, particularly concerning risk-based controls and customer due diligence  —  - Block, Inc. had AML gaps including failing to have risk-based controls to prevent money laundering and illicit activity as well as insufficient customer due diligence, NYDFS said.

Sarah Wynn / The Block:

Block reaches a $40M settlement with NYDFS for critical gaps in its AML program, particularly concerning risk-based controls and customer due diligence  —  - Block, Inc. had AML gaps including failing to have risk-based controls to prevent money laundering and illicit activity as well as insufficient customer due diligence, NYDFS said.

Source: TechMeme
Source Link: http://www.techmeme.com/250410/p26#a250410p26