Former US Treasury investigator heads Binance's GMLRO department – Bits Media

Amid Growing Regulatory Oversight, Binance Hired Treasury Department's Greg Monahan to Lead Money Laundering Reporting (GMLRO) and interaction with law enforcement agencies.

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Binance reported, that Greg Monahan (Greg Monahan) has almost 30 years of public service experience, Most of which he worked as an investigator of the US Treasury. He investigated tax crimes, Cases of money laundering and other financial crimes associated with this. Led complex international investigations, as a result of which some of the large cybercriminals were caught.

“My efforts will be focused on expanding the international programs of Binance to combat money laundering (AML), investigations, which will help to make crypto industry a safer place, as well as on strengthening Binance relations with regulatory and law enforcement agencies around the world ", – Monakhan said.

Binance CEO Changpeng Zhao (Changpeng Zhao) welcomed the appointment of Monakhan and expressed hope, that the strengthening of a team of security experts will provide Binance new opportunities in protecting the interests of the exchange and crypto community in general.

FROM 2020 year Binance has increased the international team and advisory council for compliance with regulatory requirements in 5 time. Karen Leong, held the position of chief Gmlro with 2018 of the year, It remains at Binance as a compliance director and will continue to control the activities of the exchange for compliance with the requirements and norms of the legislation.

Binance has repeatedly been subjected to close attention from global regulatory organs. For this reason, she had to limit some of her services, For example, futures trading in several countries of the European Union.