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Block says it reached outline deal with US DOJ over anti-money-laundering probe

NewsFeeds update

Block, Jack Dorsey's payments company, disclosed in a regulatory filing that it reached an agreement in principle in October with the US Department of Justice over its anti-money-laundering compliance, with prosecution deferred for three years. The deferred-prosecution deal, subject to court approval, is worth about $964m in total and $764m net; Block had already provisioned $526m at the end of June and raised that to $764m at the end of September.

RegulationChainCatcherAIBearish

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The story so far: Block DOJ Cash App AML settlement

Block disclosed an agreement in principle with the US DOJ over anti-money-laundering compliance at Cash App, a deferred-prosecution deal worth about $964m total and $764m net, with prosecution deferred three years. Block has now agreed in principle to the $964m settlement, with Bank Secrecy Act charges held for three…

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  1. Block says it reached outline deal with US DOJ over anti-money-laundering probe

  2. Block agrees in principle to $964m US Justice Department settlement over Cash App AML failings

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