Binance Hires Ex-US Treasury Investigator to Head AML Operations

Supply: Adobe Inventory / mehaniq41

The crypto trade large Binance says that it has appointed a former American Treasury official as its new anti-money laundering (AML) enforcer – because the agency apparently strikes to get on the nice facet of regulators world wide.

The agency has fallen below scrutiny from regulators in quite a few nations in latest months – from Germany and the United Kingdom to Singapore and Thailand.

However, per a press launch shared with, the agency stated that it had appointed Greg Monahan, a former United States Treasury Felony Investigator as its new International Cash Laundering Reporting Officer.

The agency claimed that Monahan has “almost 30 years of credited authorities service,” most of which was as a Treasury investigator – the place he was “liable for tax, cash laundering and different associated monetary crime investigations.” Monahan, the agency added, has “led advanced worldwide investigations which have resulted within the takedown” of “prolific cybercriminals, nation-state actors, and terrorist organizations.”

Monahan was quoted as stating that his efforts will “be targeted on increasing Binance’s worldwide AML and investigation packages, in addition to strengthening the group’s relations with regulatory and legislation enforcement our bodies worldwide.”

The agency has been spending massive on the compliance entrance in latest months. Binance stated that Karen Leong, the incumbent International Cash Laundering Reporting Officer, will develop into its new Director of Compliance, and famous that it has “grown its worldwide compliance staff and advisory board by 500% since 2020.”

The agency has beforehand employed the previous Monetary Motion Activity Pressure executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors. The previous American Senator Max Baucus is its coverage and authorities relations advisor.

The information follows stories earlier this week that Binance was locked in talks with the previous head of the Abu Dhabi International Market, the ex-chief regulatory officer of the Singapore Trade, and former Cash Authority of Singapore (MAS) officer Richard Teng.

Per Bloomberg, people “conversant in the matter” stated Tang had been requested to take cost of the buying and selling platform’s Asian companies, though it was not clear whether or not the ex-MAS man had agreed on the Binance transfer.

Binance was rocked by the shock departure of Brian Brooks, the previous head of the Workplace of the Comptroller of the Forex, after lower than 4 months in his publish because the CEO of Binance.US.

Quoting two unnamed “folks conversant in the choice,” the media outlet The Block reported that Joshua Sroge, who was appointed because the Binance Chief Monetary Officer in January final yr, can be filling in as interim CEO till the platform hires a full-time alternative.


Study extra:
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Binance Winds Down Derivatives In Europe While Malaysia Takes Action
Regulators Take Notice as Bragging Crypto Derivatives Traders Get Caught

Written by CryptoMoonPicks

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