Cash App Settles $45M Scam Claims | Tech News

Block, the company behind Cash App, is paying $45 million to 46 states to settle claims that its peer-to-peer app failed to protect users from scams—promising bank-like fraud safeguards while offering weak security, easy account creation without IDs, no account limits, and fake customer service numbers that scammers exploited. This follows a prior $175 million penalty from the CFPB for similar issues. As fintech apps grow more central to daily finance, regulators are stepping up enforcement, forcing Block to overhaul fraud detection and deliver real live customer support to rebuild trust. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/17ec11b861dd412b