By
Adrianne Appel2025-04-11T08:00:00
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
Cash App is a peer-to-peer money transfer service people use to send and receive cash and virtual currency, like Bitcoin, to one another. As a money transfer service, Cash App is required to comply with anti-money laundering (AML) regulations and the Bank Secrecy Act (BSA). The BSA/AML rules require banks, financial firms and money transfer businesses to screen customers and their transactions for links to criminal activity, and report any suspicions to authorities.
2025-05-06T22:57:00Z By Adrianne Appel
A Cambodian financial company, the Huione Group, has laundered billions of dollars for international criminals and those linked to North Korea, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The agency proposes that the company should be severed from having access to the U.S. financial ...
2025-05-01T21:38:00Z By Adrianne Appel
The New York Department of Financial Services (NYDFS), led by Superintendent Adrienne Harris, doesn’t intend to let up on cryptocurrency enforcement, even in the face of pullback from the federal government.
2025-04-15T16:02:00Z By Adrianne Appel
A small band of Senate Democrats is calling on the Trump administration to reinstate the cryptocurrency investigations unit at the Department of Justice (DOJ).
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
2025-10-23T20:07:00Z By Oscar Gonzalez
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
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