Block Inc., the parent company of Cash App, has agreed to pay $45 million to settle an investigation involving 46 U.S. states over allegations that it failed to adequately protect users from fraud.
State regulators alleged that Cash App misled customers about the platform’s security while failing to implement stronger fraud prevention measures. According to the investigation, the company continued expanding its marketing efforts even as reports of fraud increased, instead of improving user protections.
As part of the settlement, Block has agreed to strengthen its consumer safeguards. The company must provide 24-hour customer support for Cash App users and stop making deceptive or misleading claims about the app’s security features.
The settlement resolves the multi-state investigation without Block admitting wrongdoing, while requiring the company to improve how it handles fraud complaints and protects customers from scams.
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Block Agrees to $45 Million Settlement Over Cash App Fraud Protection Claims
