Block has agreed to pay $45 million and provide live customer support for its Cash App mobile payment service to settle allegations from 46 states that it failed to adequately protect users from fraud, state officials announced Wednesday.

Dig deeper: The multistate investigation alleged that the company misled customers by advertising protections similar to those offered by banks, including advanced fraud detection.

According to the states, Cash App experienced a surge in fraud over recent years, but the company focused on expanding its marketing instead of strengthening security measures.