Block Reaches $964 Million Settlement with DOJ Over Anti-Money Laundering Investigation
Block has allocated additional funds to finalize a settlement regarding a multi-year Department of Justice (DOJ) investigation into its anti-money laundering (AML) compliance practices. The agreement follows an initial principle reached in October, aimed at resolving regulatory concerns over the company's oversight mechanisms. Under the terms of the deal, the DOJ will defer formal charges against the company for a period of three years. This settlement marks a significant resolution to long-standing legal scrutiny regarding how Block manages financial crime risks within its ecosystem.
Tickers: $XYZ
Topics: Anti-Money Laundering Deferred Prosecution Agreement Department of Justice