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

NewsFeeds update

Block has agreed in principle to a $964m settlement with the US Justice Department over anti-money-laundering shortcomings at Cash App. Prosecutors will hold Bank Secrecy Act charges for three years and seek to drop them if Block meets its obligations.

RegulationOdailyAIBearish

Read the original on Odaily

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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