Jack Dorsey’s European Cash App Business Has Been Ordered To Fix Money Laundering Problems

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Neither fines nor reputational damage offer much of a threat to companies that breach anti-money laundering law, said Westmore, the ex-fraud investigator, now senior research fellow for the financial crime center at U.K.-based think tank RUSI. The bank also has the power to revoke or suspend a license, which could be an existential threat, Westmore added. “If you have the license revoked, it would be very difficult to see how you could quickly get back into business,” Westmore said. “Frankly, nobody's going to want to touch you.”