SANTA FE — New Mexico will receive more than $388,000 through a multistate settlement with Block Inc., the company behind Cash App, Attorney General Raúl Torrez announced Friday.
The $45 million settlement involves allegations that Cash App misled customers about the platform’s safety, failed to adequately protect users from known fraud, and did not provide the customer support and fraud resolution it promised.
Investigators alleged that some users were locked out of their accounts for weeks, while fraud victims faced delays that made recovering stolen money difficult. Scammers also used fake customer-service telephone numbers to gain access to accounts.
Under the settlement, Cash App must improve fraud investigations, provide expanded live customer support, educate users about common scams, and stop making misleading claims about its security. The company must also meet its legal obligations concerning unauthorized transactions.
The agreement involved New Mexico and 45 other states.
Source: New Mexico Department of Justice
