Cash app how do i get my money back

Share to Twitter Share to Linkedin Cash App’s Barcelona-based business fined for anti-money laundering and terrorist financing failures, while Hindenburg Research shorts owner Block, citing ‘Wild West’ approach to compliance. The European arm of Jack Dorsey’s hugely popular Cash App payment software has been slammed by its banking license provider for “serious and systematic infringements of the prevention of money laundering and terrorist financing.” The reprimand, which came with a $250,000 fine, landed last week from the Bank of Lithuania, which provides a license to Verse, a Cash App company founded in Barcelona, Spain. On Thursday, Hindenburg Research, an activist short seller and investment firm, said it was taking a short position on Block, the owner of Cash App, because of the company’s alleged compliance weaknesses. “Core to the issue is that Block has embraced one traditionally very ‘underbanked’ segment of the population: criminals,” … [Read more...] about Jack Dorsey’s Block Slammed For Failure To Stop Criminals Abusing Cash App

Shares of the payments company Block were in free fall Thursday, after a short seller accused the Jack Dorsey-run business of fraud. Hindenburg Research, a respected short seller, said Block (formerly known as Square) allowed criminal activity to operate and flourish by taking a “Wild West” approach to compliance, which “made it easy for bad actors to mass-create accounts for identity fraud and other scams, then extract stolen funds quickly.” The accusations came after what the firm said was a two-year investigation. The main focus of criticism was Block’s Cash App , a peer-to-peer payment platform that lets users send money to friends and family. “CEO Jack Dorsey tweeted that users could get government payments through Cash App ‘immediately’ with ‘no bank account needed’ due to its frictionless technology,” the report reads. “Within weeks of Cash App accounts receiving their first government payments, states were seeking to claw back suspected fraudulent … [Read more...] about Jack Dorsey’s Cash App accused of fraud in damning report by activist short seller

Share to Twitter Share to Linkedin Remittances have seen significant digital advances over the past decade, but the industry is still in the midst of a generation-long shift. If you live in a major city, there’s a good chance that you are starting to see cash use as a thing of the past. The rise of card and mobile wallet-based payments, as well as the rejection of cash during the pandemic, has increasingly seen digital payments take the lead in numerous parts of the world. Many people now go weeks or months without handling cash at all. However, in the world of consumer remittances, the digital payments story is quite different. For customers sending remittances to friends and family around the world, the range of options is significant for many corridors – the term used to describe the pair of countries a payment is initiated between. Customers can now pay money directly into a recipient’s bank account; their preferred mobile wallet; or even their card, … [Read more...] about Remittances’ Shift To Digital: Driving Change In An Industry Split Between Yesterday And Tomorrow

Share to Twitter Share to Linkedin The disappearance of a supportive financial institution, which may have given them their first business credit card or mortgage, hits a bit different for foreign-born entrepreneurs. T he 3.2 million foreign-born entrepreneurs operating businesses in the U.S. are key drivers of innovation, with immigrants most famously starting Silicon Valley heavyweights such as Google, Tesla and Yahoo. That’s even as foreign-born founders have had to work harder to overcome obstacles that include the thorny mess that’s U.S. immigration policy . The failure of Silicon Valley Bank, now operating under FDIC receivership, will be one more obstacle many of them will have to overcome. “Immigrant founders have a harder time raising capital and whenever there are events like this, it only makes things harder,” Payam Pourtaheri, an Iranian immigrant who is cofounder and CEO of Agrospheres, tells Forbes by email. Some immigrant … [Read more...] about For Many Immigrant Founders, Silicon Valley Bank’s Collapse Is One More Hurdle To Jump

Share to Twitter Share to Linkedin When founders scrambled to make payroll after the closure of SVB, some VC firms promised to help—but only a few actually wired money. Last Friday afternoon, OpenAI CEO Sam Altman issued a challenge to Silicon Valley’s venture capitalists: Put your money where your mouth is. “Investors who ask ‘how can I be helpful’: today is a good day to offer emergency cash to your startups that need it for payroll or whatever,” Altman tweeted . “No docs, no terms, just send money.” In the wake of Silicon Valley Bank’s abrupt closure that morning , Altman’s message struck at the big question for tech entrepreneurs and investors alike: With deposits at SVB frozen, how would they pay employees the following week? Over that frantic weekend, venture capital firms scrambled to respond to the crisis. Some found creative ways to ensure their founders would have access to cash on Monday, at times offering up their partners’ personal … [Read more...] about Startups Asked For Help Making Payroll After SVB. VC Responses Were Mixed

Share to Twitter Share to Linkedin Esteban Castaño TRM LABS Reported by Nina Bambysheva, Michael del Castillo and Steven Ehrlich The cryptophiles are settling into the realities of a bear market, but their recent triumphs should not be lost. A record nine cryptocurrency-focused companies made it onto this year’s Forbes Fintech 50 list–an honor roll of the most innovative private companies in fintech. Collectively, these nine trailblazers have raised $6.5 billion in venture capital, with the lion’s share of that coming within the past 12 months. Leading the pack is billionaire Sam Bankman-Fried’s crypto exchange FTX, which raised $1.5 billion in private funding last year alone, jolting its valuation from $1.2 billion to $25 billion. A $500 million raise this past January took its valuation to $32 billion, making it the third most valuable private fintech headquartered or doing business in the U.S. With its rapidly growing U.S. … [Read more...] about The Future Of Crypto And Blockchain: Fintech 50 2022

Conventional wisdom holds that if an app or service is free, it’s users who are the real product. But what if there was a way to make actual cash off of the data you generate online? As new barriers emerge for advertisers trying to harvest consumer data, some see a business opportunity. John Roa, the New York City-based founder of Caden, believes there’s an untapped market for “ethically sourced, first-party data” that users actually nets users money. Caden , which launches this week, aims to give users an easy way to vacuum up their information from the online services they use, and then sell the combined data for some extra money. Users could one day make $50 a month using his app, Roa claims—that’s if Caden can turn around the ad tech industry. (In the meantime, starting rates will probably be closer to $10.) “We’re not a disrupter; the disruption is already happening,” Roa says. “Across ad tech and MarTech , everyone is seeing prices go up and effectiveness … [Read more...] about This startup hopes to pay users $50 a month to sell companies their data

A consumer uses Apple Pay to buy a snack at Emart24 in Yongsan District, central Seoul, on Tuesday. [YONHAP] Apple Pay is now available in Korea — but not exactly nationwide. The service became available Tuesday on Apple devices, including iPhones, Apple Watches and Macs. Apple Pay is currently only available through Hyundai Card and can only be used in department stores such as Hyundai Department Store, Lotte Department Store, Lotte Mall; discount supermarket chains such as Lotte Mart, Home Plus or convenience stores such as GS25, Seven Eleven and CU. Online platforms that are now accepting Apple Pay include Musinsa shopping mall and food delivery service Baedal Minjok (Baemin). Of affiliates under Shinsegae, only convenience store chain Emart24 supports Apple Pay. Consumers cannot use the service in Shinsegae Department Store or Starbucks. Shinsegae has its own electronic payment system SSG Pay, launched in July 2015. Other coffee franchises such as Paul Bassett, … [Read more...] about Apple Pay rolled out but smaller stores recoil at costs

The heyday of Neopets has long gone. But Dominic Law, CEO of Neopets Meta, thinks the two decades-old virtual pet game has all the right ingredients to become a Web3 title. From a base in Hong Kong, Law is building a blockchain-based 3D virtual world for these fantasy creatures, even as the future of Web3 gaming is blurred amid a crypto winter. L ike tens of millions of preteens who got on the internet for the first time in the early 2000s, Dominic Law used to spend his free time on Neopets.com . He spent hours feeding jellies to his dragon-like digital pet (called a Shoyru, the most popular Neopet species), earning virtual currencies by playing mini-games like Extreme Potato Counter and exploring the website’s vast online world where a giant dinosaur egg omelet exists. Within a few years, however, Law’s virtual pets, like millions of others, were forgotten as he got busy with school exams. After more than two decades later, Law, who is now 35 years old, got … [Read more...] about Remember Neopets? This Hong Kong Company Is Trying To Revitalize The Nostalgic Game With Web3 Technology

Share to Twitter Share to Linkedin Sandeep Kumar, Sr.VP & Head Global Consulting, ITC Infotech . The hospitality industry is witnessing a revolution as several hotel chains and brands embrace modern cloud systems to reduce hardware footprints, enhance customer experience and maintain data safety. A recent survey by Oracle Hospitality states that almost 60% of hoteliers aim for a complete contactless experience for all basic hotel transactions, such as check-in and checkout, food and beverage, room keys and more. With the rise in demand for technology to unlock better guest hospitality experiences, hospitality-focused technology innovation is also gaining momentum. Some popular hospitality software solutions many hotel chains opt for include cloud adoption technology and property management software (PMS) solutions, cloud-based data and analytics, and open integration frameworks. These are primarily developed to provide greater efficiency and … [Read more...] about Open Hospitality: Transitioning The Hotel Industry To A Cloud Ecosystem With Open Integration