Block, Inc. will pay $45 million to settle allegations from 46 states that Cash App misled users about its security and left them vulnerable to fraud. The agreement follows findings that the app lacked proper customer support and verification controls, enabling scammers to exploit users and fake support numbers.
Keypoints
- Block agreed to pay $45 million to settle claims over Cash App’s security practices.
- State attorneys general said Cash App overstated its protections and failed fraud victims.
- Investigators found weak verification and no phone support helped scammers target users.
- Users often found fake customer service numbers online and were tricked into calling them.
- The settlement requires stronger live support and reinforces a related federal payment order.
Read More: https://therecord.media/cash-app-owner-to-pay-45-million-security-allegations