Troubled cryptoexchange Binance has appointed Greg Monahan, former US Treasury Criminal Investigator as global money laundering reporting officer (GMLRO).
Cayman Islands-domiciled Binance has been dogged by regulatory issues around the world, with watchdogs in the UK, Japan, Hong Kong, Germany and Thailand among those to take action over AML and consumer protection concerns.
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.
Says Monahan: “My efforts will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programmes, as well as strengthening the organisation’s relations with regulatory and law enforcement bodies worldwide.”
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.