Block Books $764 Million for Planned DOJ Deal That Would Defer a Bank Secrecy Act Charge
Block, the Cash App and Square operator, booked $764 million against a planned three-year deferred prosecution agreement with the Justice Department over anti-money laundering controls under the Bank Secrecy Act. No final deal is signed and a court must still approve it. The filing says the cost could exceed the accrued amount, so traders tracking fintech compliance risk may watch for the final terms.
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