Block Will Pay $764 Million to Resolve AML Investigation
By PYMNTS
AI summary of the source article
Block has reportedly agreed to pay $764 million to resolve a Justice Department investigation into its anti-money laundering controls. The settlement exceeds the company's third-quarter profit of $566 million.
Key facts
- Block is reportedly paying $764 million to resolve a Justice Department AML investigation.
- The agreement-in-principle settlement exceeds the $566 million profit Block reported for the third quarter.
- Block is the owner of CashApp and Square.
Source excerpt · PYMNTS
Block is reportedly paying $764 million to resolve a Justice Department investigation of its anti-money laundering controls. That’s according to a CoinDesk report on Thursday (Nov. 5), which noted that the agreement-in-principle settlement is larger than the $566 million profit Block—owner of CashApp and Square—reported for the third quarter. The agreement, reached last month and […] The post Bloc…