Block Agrees in Principle to $964 Million DOJ Deal Over Cash App

Block has agreed in principle to a $964 million deal with the U.S. Department of Justice concerning anti-money-laundering deficiencies tied to Cash App. Under the proposed terms, prosecutors would defer a Bank Secrecy Act charge for three years. The proposed arrangement would postpone the charge rather than dismiss it immediately. Prosecutors would seek dismissal only if Block fulfills its obligations under the deal. The charge would allege a violation of the Bank Secrecy Act (BSA), the statute named in the proposed case.

Also reported by The Defiant.

Source: TokenPost