Consumer complaint received 2026-03-18 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: Block, Inc.
State: TN

Complaint narrative:
To : Compliance Department Cash App Date : XX/XX/XXXX Dear Sir or Madam, I am submitting this formal complaint regarding Cash Apps failure to adequately monitor suspicious activity and protect my funds in connection with a coordinated cryptocurrency employment scam that occurred between XXXX and the third week of XX/XX/XXXX. This letter constitutes a formal demand for resolution. Background of the XXXX Between XXXX and XX/XX/XXXX, I was targeted through XXXX with what appeared to be a legitimate employment opportunity. The scammers claimed to represent a XXXX company named XXXX. Key facts : I was promised commissions of 3050 % for completing online tasks. I was coached step-by-step through purchasing cryptocurrency. Funds were transferred through Cash App and other banking channels. I ultimately lost approximately {$12000.00}. I was promised {$26000.00} in returns. Each time I completed a task, additional deposits were required. I was later told I must pay a tax and 10 % release fee before receiving payment. No funds were ever returned. I provided Cash App with all relevant wallet addresses, transaction details, and complete communication records in my evidence package. Cash Apps XXXX and XXXX XXXX Cash App operates as a Money Services Business ( MSB ) subject to the Bank Secrecy Act ( BSA ) and anti-money laundering ( AML ) regulations enforced by : XXXX XXXX XXXX XXXX XXXX federal law, Cash App is required to : Maintain an effective XXXX compliance program Conduct customer due diligence ( CDD ) Monitor transactions for suspicious activity Detect fraud typologies File Suspicious Activity Reports ( XXXX ) when appropriate Apply enhanced monitoring when red flags are present The scam I experienced is a widely documented task-based XXXX scam involving : Social engineering Escalating transfer amounts Promised high returns Fake tax/fee release demands Coaching victims through transactions These patterns are well known to regulators and financial institutions. Failure to Identify Suspicious Activity The transactions processed through Cash App involved : Escalating transfers Funds being moved into cryptocurrency Transfers to external wallets Repeated requests for additional deposits Such activity should reasonably trigger enhanced scrutiny under a risk-based XXXX framework XXXX Cash App had the ability to : Detect suspicious transaction patterns Flag high-risk beneficiaries Temporarily restrict transactions pending review Warn customers of potential scam indicators Instead, the transactions were allowed to proceed. The fact that I authorized the transactions does not eliminate Cash Apps duty to monitor suspicious behavior and intervene when clear fraud typologies are present. Consumer Protection Responsibilities Cash App markets itself as a secure financial platform. With that representation comes an obligation to implement adequate fraud detection controls. Disclaimers in Terms of Service do not override statutory AML responsibilities under federal law. If Cash Apps monitoring systems failed to detect well-known scam patterns, that represents a serious compliance deficiency. Demand for Immediate Resolution I formally request : 1. A full internal AML review of all transactions related to this matter. 2. Confirmation whether Suspicious Activity Reports ( SARs ) were filed. 3. Disclosure of whether the receiving wallets or accounts have been flagged. 4. Immediate action to trace and attempt recovery of the funds. 5. Reimbursement of the {$12000.00} lost due to inadequate monitoring and fraud prevention safeguards. Notice of Regulatory Escalation If I do not receive a substantive response within seven ( 7 ) days, I will file formal complaints with : Financial Crimes Enforcement Network U.S. Securities and Exchange Commission Consumer Financial Protection Bureau State financial regulators and the appropriate Attorney Generals Office This letter serves as formal notice and opportunity to resolve this matter prior to regulatory escalation. Impact Statement This fraud has left me in significant financial distress. I was forced to take loans in an attempt to recover funds and remain in debt. I have filed reports with the FBI and the RCMP. I expect this matter to be escalated to your Chief Compliance Officer for review. I look forward to your written response within seven days. Sincerely, XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation