Cash App Under Federal Investigation: Money Laundering Allegations

Federal Financial Regulators Investigating Allegations of Money Laundering and Terrorism Financing on Cash App

Federal financial regulators have launched an investigation into Cash App following allegations made by two whistleblowers. The whistleblowers claim that the popular mobile payment platform, along with its transaction service providers, neglected to conduct proper due diligence on customers, potentially facilitating money laundering, terrorism financing, and other illegal activities.