Company Directory - Cash App
Company Details - Cash App
Cash App
WebsiteCash App is a mobile payment service that allows users to transfer money to one another using a mobile phone app.
CCI Score
CCI Score: Cash App
-56.53
0.03%
Latest Event
Block Fined $40M Over AML Failures Impacting Cash App
Block Inc., the owner of Cash App, reached a $40 million settlement with New York regulators over serious compliance deficiencies in its anti-money laundering and transaction monitoring processes, raising concerns about the potential exploitation of its financial platforms by criminal and terrorism-linked entities.
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QUISLING
Cash App is currently rated as a Quisling.
Latest Events
- APR112025
Block Inc., the owner of Cash App, reached a $40 million settlement with New York regulators over serious compliance deficiencies in its anti-money laundering and transaction monitoring processes, raising concerns about the potential exploitation of its financial platforms by criminal and terrorism-linked entities.
- JAN172025
Cash App faces a $255 million fine in regulatory settlements after failing consumer protection standards and weak security measures. The fines underscore systemic issues in business practices and technological safeguards that compromise consumer trust and safety.
-70
Business Practices and Ethical Responsibility
March 21
Cash App's multiple regulatory settlements highlight significant failures in consumer protection and compliance measures. The company's weak security protocols and inadequate risk management practices suggest a disregard for ethical business responsibilities, raising concerns about its broader impact on public welfare and financial transparency.
-50
Technology and Services Impact
March 21
The fines also expose shortcomings in Cash App's technological framework. The company's inadequate security measures not only failed to safeguard customer data but also made it easier for fraudulent activities to occur, undermining trust in its digital payment ecosystem.
- JAN162025
Cash App, a mobile payment service by Block, faced a $255M penalty due to deficient security protocols and oversight practices. The company's weak investigative methods and failure to adequately compensate fraud victims not only endangered consumers but also imposed additional burdens on local banks, undermining trust in regulatory institutions.
-20
Public and Political Behavior
March 21
Cash App's failure to maintain robust security measures forced consumers and banks to deal with the fallout of fraudulent activities. This neglect contributes to a broader erosion of public trust in institutions, indirectly affecting the democratic framework by empowering authoritarian regulatory overreach.
Block agrees to pay $255M to regulators for Cash App deficiencies
-70
Business Practices and Ethical Responsibility
March 21
The settlement highlights serious shortcomings in ethical business practices, where Block’s deficient oversight and lax security measures jeopardized consumer safety. This negligence reflects poorly on their commitment to ethical responsibility, thereby contributing to systemic corporate behavior that may support authoritarian practices by prioritizing profit over public welfare.
Block agrees to pay $255M to regulators for Cash App deficiencies
- JAN162025
The CFPB ordered Block, the operator of Cash App, to pay $175 million in penalties and redress after exposing deceptive practices and inadequate fraud investigation, reflecting a severe lapse in ethical business conduct that undermines consumer rights.
-80
Business Practices and Ethical Responsibility
March 21
Cash App's operator, Block, demonstrated unethical business practices by failing to investigate fraudulent transactions adequately, misleading consumers via deceptive terms of service, and intentionally routing users to ineffective customer support, which collectively indicate a serious breach of ethical responsibility. This enforcement action by the CFPB underscores how such practices can harm consumers and weaken accountability.
CFPB Orders Operator of Cash App to Pay $175 Million and Fix Its Failures on Fraud
- JAN152025
Cash App, operated by Block, Inc., has been fined $80 million and mandated to implement corrective measures for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations. This enforcement action reflects significant issues in the company's ethical business practices and raises concerns regarding its commitment to regulatory standards.
-50
Business Practices and Ethical Responsibility
March 21
The $80 million penalty imposed on Cash App for BSA/AML violations indicates a serious failure in meeting ethical business practices and regulatory responsibilities. This non-compliance not only jeopardizes financial integrity but could also indirectly facilitate illicit activities. Such irresponsible practices undermine public trust and signal potential complicity in broader issues of corporate negligence, aligning with concerns over business practices that can indirectly support authoritarian frameworks.
State Regulators Issue $80 Million Penalty to Block, Inc., Cash App for BSA/AML Violations
- FEB162024
Whistleblower allegations claim that Cash App failed to implement adequate customer due diligence measures, potentially enabling money laundering and terrorism financing. The regulatory inquiry raises serious ethical concerns about the company's business practices, particularly regarding its pressure on banking partners to ease compliance protocols.
-70
Business Practices and Ethical Responsibility
March 21
The whistleblower allegations and ensuing regulatory probe highlight significant lapses in Cash App’s due diligence procedures. By pressuring partner banks to minimize compliance measures, Cash App not only risks facilitating money laundering and terrorism financing but also undermines ethical business practices that are crucial for preventing the indirect support of extremist activities. This lack of stringent oversight and responsibility contributes to systemic risks that align with authoritarian misuse.
Federal regulators are probing whether Cash App leaves door open to money launderers, terrorists
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