Binance, blockchain ecosystem and cryptocurrency infrastructure provider, has appointed anti money laundering officer Greg Monahan, former US Treasury Criminal Investigator.. Mr. Monahan has nearly 30 years of credited government service, a majority of which as a US Treasury Criminal Investigator, responsible for tax, money laundering and other related financial crime investigations. He has led complex international investigations that have resulted in the takedown of some of the most prolific cybercriminals, nation-state actors and terrorist organizations.
“Binance has a strong culture of putting their users first, from providing market-leading products to support high profile investigations that help make the crypto industry a safer place,” said Mr. Monahan. “My efforts as an anti money laundering officer, will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide.”
Binance CEO Changpeng Zhao (CZ) said: “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants. As a former US Federal Law Enforcement Investigator, Greg Monahan brings a wealth of AML and investigations experience to Binance. We’re thrilled to welcome him to our team as GMLRO and we look forward to his contributions.”
Binance has grown its international compliance team and advisory board by 500% since 2020. Notable appointments include Jonathan Farnell as Director of Compliance, former FATF executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors and former US Senator Max Baucus as policy and government relations advisor.
Yet despite all the efforts on behalf of Binance to comply to regulatory bodies, the Dutch Central Bank recently issued a warning that Binance was operating illegally and as such didnt comply with anti money laundering and Anti terrorist act.