# Jack Dorsey's Block Settles for $40M with NYDFS over AML 'Gaps'

*Author: Bankless*
*Published: Apr 10, 2025*
*Source: https://www.bankless.com/read/jack-dorseys-block-settles-for-40m-with-nydfs-over-aml-gaps*

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Jack Dorsey's Block pays $40M to NYDFS to resolve AML violations, emphasizing the importance of compliance for crypto-linked firms.  

## **What’s the Scoop?**
- **Settlement Reached**: Block, Inc., founded by Jack Dorsey, agreed to pay a $40M penalty to the New York Department of Financial Services (NYDFS) for anti-money laundering (AML) compliance failures.
- **AML Gaps Addressed**: NYDFS identified significant gaps in Block's AML program, citing insufficient transaction monitoring and inadequate oversight protocols.
- **Operational Impact**: The settlement includes Block committing to remedial measures to improve compliance and oversight while continuing operations without interruption.
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