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Block Pays $20M Over Pandemic Fraud | Seattle News
Block, the company behind Cash App, is paying $20 million to Washington state after failing to prevent fraudsters from siphoning over $22 million in fake unemployment benefits through its platform during the pandemic. The state’s attorney general accused Block of prioritizing rapid growth—especially among non-traditional bank users—over essential fraud safeguards, contributing to Washington’s $648 million unemployment fraud loss. This settlement marks the second major win for the state’s legal team in holding fintech firms accountable for lax security during the crisis, underscoring the…
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