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Block fined $40 million by New York regulator for anti-money laundering failures

( April 10, 2025, 20:39 GMT | Official Statement) -- MLex Summary: Virtual payment firm Block will pay a $40 million penalty to the New York State Department of Financial Services for significant failures in its Bank Secrecy Act and anti-money laundering compliance program, which violated the state's money transmitter and virtual currency regulations. In addition to the monetary penalty, Block is required to retain an independent monitor, the department said.Statement follows below. See attached file....

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