Block reaches three-year deferred prosecution agreement with DOJ over money laundering charge

Block entered a three-year deferred prosecution agreement with the U.S. Department of Justice over a money laundering charge, resolving a case tied to its compliance failures. The agreement underscores rising regulatory scrutiny of fintechs and the need for stronger anti-money laundering controls across the industry. It follows a broader push by authorities to hold payments and crypto-adjacent firms accountable for compliance gaps. Block, which operates Square and Cash App, now faces the task of demonstrating remediation over the DPA term. What to watch next is whether Block meets the agreement’s compliance conditions and whether other fintechs face similar enforcement action.