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Cash App, a mobile payment service owned by Square Inc., is reportedly being investigated by U.S. federal regulators who are concerned that the app’s policies and procedures might have inadequacies that could potentially be abused by money launderers or terrorist groups.
While it is important to note that an investigation does not necessarily mean wrongdoing, regulators aim to ensure that digital payment platforms like Cash App have robust and effective measures in place to prevent illegal activity. This includes meeting Anti-Money Laundering (AML)