According to the official announcement, in a coordinated enforcement action by financial regulators in 48 states in the United States, Block, Inc. will pay a fine of $80 million and take corrective measures to correct violations of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) laws, which protect the financial system from illegal use. It is reported that more than 50 million consumers use Block's mobile payment service Cash App to consume, transfer money, store and invest. In the interstate settlement agreement signed this week, Block agreed to pay fines to state agencies, hire independent consultants to review the comprehensiveness and effectiveness of its BSA/AML program, and submit reports to the states within 9 months. After the report is submitted, Block will have 12 months to correct any loopholes found in the review.