Cash App Settles Fraud Claims | Baltimore News

Cash App’s parent company, Block, is paying $45 million to 46 states to settle fraud protection claims, after regulators accused it of lax security and misleading users—comparing its safeguards to traditional banks. States highlighted vulnerabilities like easy account creation without ID, multiple accounts per user, and fake customer support numbers that led to scams. Block denies wrongdoing, saying it’s fixed the issues with upgraded security and live support now available 13.5 hours daily. The deal excludes Hawaii, Missouri, South Carolina, and Wyoming. Separately, Block also agreed to pay $20 million to Washington state over its role in processing $22 million in stolen pandemic unemployment benefits. 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/e9832e8624f0a3ae