Block lifts profit outlook on Cash App strength, reaches preliminary DOJ settlement
14 Articles
14 Articles
Block, a payment company behind Square, Cash App and Afterpay, which has co-founder Jack Dorsey (who was one of the creators of the old Twitter), had to reserve more resources to close an investigation that has been dragging away for years in the United States Department of Justice on its money laundering prevention program. In October, the company and the Department of Justice reached a preliminary agreement by which the body would agree to "su…
Block Agrees to $964 Million Penalty on Money-Laundering Lapses
Block lifts profit outlook on Cash App strength, reaches preliminary DOJ settlement
Block on Tuesday raised its full-year gross profit outlook after strength in its Cash App unit lifted the firm's quarterly earnings, while also reaching a preliminary settlement with the US Department of Justice over its anti-money laundering program.
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