By Aaron Nicodemus2023-03-24T16:35:00
An investment research firm accused financial technology payment company Block of facilitating money laundering, fraud, and scams on its platform.
Hindenburg Research, a noted short seller, released a report Thursday on Block (formerly Square) backed by two years of research and interviews with former Block employees and partners. The investigative report alleged the company’s claimed disruptive innovation of the payments industry has been fueled by its “willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.”
Block’s “‘Wild West’ approach to compliance” on its Cash App platform has “made it easy for bad actors to mass create accounts for identity fraud and other scams, then extract stolen funds quickly,” according to the report.
2025-04-11T08:00:00Z By Adrianne Appel
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.
2022-04-07T16:26:00Z By Kyle Brasseur
Approximately 8.2 million U.S. customers of Cash App Investing have been notified of a data breach carried out by a former employee of the mobile payment service provider.
2021-12-21T18:43:00Z By Jaclyn Jaeger
Electric semitruck startup Nikola agreed to pay $125 million to settle charges brought by the SEC for defrauding investors by misleading them about its products, technical advancements, and commercial prospects.
2025-10-09T18:11:00Z By Jaclyn Jaeger
On-again-off-again tariffs, a down economy, and a long list of global supply chain disruptions are challenging U.S. food and beverage companies to adjust their supply chain operations in a variety of ways.
2025-09-25T20:36:00Z By Jaclyn Jaeger
New regulations, changing consumer demands, and global supply chain disruptions – from cost-of-goods inflation to tariffs to raw material shortages, and more – are just a few top challenges reshaping the operations of food and beverage industry today. “These challenges are no longer just logistical—they implicate sourcing risk, contract performance, ...
2025-09-17T19:03:00Z By Ruth Prickett
More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
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