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Cash App

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

Back to profile5 entries

  1. 2025

    Anti-money-laundering compliance settlement

    Block agreed to pay $80 million to 48 state financial regulators after findings that its prior controls for monitoring money laundering through Cash App were inadequate. The settlement included an independent review of the compliance program.

    Source

  2. 2024

    Data-security class-action settlement

    Cash App and Block agreed to a $15 million settlement concerning alleged unauthorized account access and fraudulent withdrawals or transfers tied to reported security incidents. The companies denied wrongdoing and agreed to security improvements.

    Source

  3. 2022

    Block confirms Cash App data breach

    Issue disclosure

    Block confirmed that a former employee accessed Cash App reports without permission after their employment ended. The reports contained U.S. customer information, and the breach affected more than 8 million users.

    Company response

    • Investigation — Block

      the company has launched an internal investigation

    • Remediation — Block

      Upon discovery, we took steps to remediate this issue

    • Ongoing disclosure — Block Inc.

      The company says affected customers are being notified.

    Source excerpt

    • the company has launched an internal investigation
    • Upon discovery, we took steps to remediate this issue
    • Cash App experienced a massive data breach affecting more than 8 million of its users last year in December.
    Source

  4. 2022

    Block discloses former employee’s download of Cash App customer reports

    Issue disclosure

    Block announced that it learned a former employee had downloaded reports containing personal information of U.S. Cash App Investing users after leaving the company. The reports included names and brokerage account information; Block said it was contacting affected current and former customers and that its investigation was not complete.

    Company response

    • Ongoing disclosure — Block

      Block said it is contacting all current and former customers of the feature "to provide them with information about this incident and sharing resources with them to answer their questions."

    • Investigation — Block

      Although the Company has not yet completed its investigation of the incident

    Source excerpt

    • On Monday, Block, the financial service company that owns Cash App and was created by Twitter founder Jack Dorsey, announced it learned the former employee downloaded the information in December, according to a report filed with the U.S. Securities and Exchange Commission.
    • The data downloaded didn't include usernames, passwords, Social Security numbers or bank account information, but it did include full names and brokerage account numbers, which are used to identify a user's stock activity on Cash App Investing.
    • The filing says the only potentially affected users include those in the U.S. who use Cash App Investing, which is around 8.2 million users.
    Source

  5. 2022

    Cash App discloses customer data breach

    Issue disclosure

    Block disclosed in an April 4 filing that a former employee downloaded customer reports without permission after leaving the company. The reports contained some Cash App customers’ names and brokerage account numbers and may have included portfolio and trading information. Block said Cash App Investing would contact about 8.2 million current and former users.

    Company response

    • Investigation — Block

      The company said it's launched an investigation into the breach

    • Ongoing disclosure — Block

      the company will notify impacted users of the breach and will "continue to review and strengthen administrative and technical safeguards to protect information."

    Source excerpt

    • In an emailed statement to McClatchy News, a Cash App spokesperson said the company will notify impacted users of the breach and will "continue to review and strengthen administrative and technical safeguards to protect information."
    • In the April 4 filing, the company said that the stolen reports contained customers' full names and their brokerage account numbers, or the unique number associated with a customer's stock activity on Cash App Investing.
    • The company said it's launched an investigation into the breach, and that law enforcement and regulatory authorities have been notified, the filing said.
    Source