the AML program run by the firm "failed to adequately consider the substantial risks posed to an entity of its new size and complexity,"
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Authors
Sarah Wynn
Sources
Jack Dorsey's Block, Inc. settles for $40 million with NY regulator over AML failures
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The New York State Department of Financial Services found that Block’s AML program failed to adapt to the company’s rapid growth and increasing complexity, exposing it to substantial risks and regulatory violations.
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