Oregon and 47 states settled with Block Inc. for BSA/AML violations, imposing an $80 million penalty and requiring an independent review of Block's compliance program.

Block, Inc has agreed to pay a fine of $80 million to a group of 48 state financial regulators for violations of anti-money laundering laws through its mobile payment service, Cash App. The multi-statement settlement would also see the fintech firm bring in an independent consultant to review its Bank Secrecy Act and anti-money laundering program,