Block Settles Cash App Fraud Probe With 46 States for $45 Million

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Block reached a $45 million settlement with 46 US states over allegations that Cash App failed to protect users from fraud on its peer-to-peer payments product. The settlement is small relative to Block's revenue but establishes a multistate template for holding P2P platforms accountable for fraud losses they did not commit. Relevant to anyone shipping agentic payment features: the regulatory theory is that the platform owns the fraud surface it creates.