Block to Pay $764 Million Net in DOJ AML Settlement, Prosecution Deferred 3 Years

Block disclosed in a Tuesday regulatory filing a preliminary deferred prosecution agreement with the US Department of Justice over anti money laundering compliance. The DOJ will defer prosecution for three years over claims Block failed to keep effective AML program and violated the Bank Secrecy Act. The deal pending court approval totals about $964 million with a net payment near $764 million.