In Brief:
- Former US Treasury criminal investigator Greg Monahan will be in charge of strengthening Binance’s worldwide anti-money laundering and investigation programmes.
Binance, a cryptocurrency exchange, Hired a new expert in money laundering. Greg Monahan, a veteran US federal criminal investigator, will manage the Bitcoin firm’s global money laundering reports.
Monahan will be based in Washington and will be in charge of existing staff. He worked for the Internal Revenue Service for most of his career, leading cybercrime investigations. Monahan said in a statement, “My efforts will be focused on expanding Binance’s international anti-money laundering and investigation programmes.”
Binance is under increasing attention in Washington, including an investigation by the Department of Justice and the Internal Revenue Service. The highly unregulated crypto business is also prepared for new laws, such as IRS reporting requirements for crypto transactions.
Binance has recently spent a lot of money in hiring people with government experience, like the Financial Action Task Force (FATF). Such personnel changes are a regular approach for financial organisations facing investigations or large regulatory enforcement measures.
Karen Leong, Binance’s senior money laundering executive since 2018, will be promoted to director of compliance, according to the company.
Also Read: London High Court Orders Binance to Identify the Crypto Hackers
Binance Chief Executive Officer Changpeng “CZ” Zhao stated, “We are always developing our capabilities to make Binance a secure place.”
About Binance:
Binance is a cryptocurrency exchange that offers a trading platform for a variety of digital currencies. It was established in 2017 and has its headquarters in the Cayman Islands. In terms of daily trading volume, Binance is presently the largest exchange in the world.
