Binance has announced the appointment of former US Treasury criminal investigator Greg Monahan as the under-fire organisation’s money laundering expert.
Mr Monahan, who joins the organisation as Global Money Laundering Reporting Officer (GMLRO), 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.
The experienced investigator has led a series of complex international operations that have resulted in the takedown of some of the most prolific cybercriminals, nation-state actors and terrorist organisations.
“Binance has a strong culture of putting their users first, from providing market-leading products to supporting high-profile investigations that help make the crypto industry a safer place,” he said.
“My efforts will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programs, as well as strengthening the organisation’s relations with regulatory and law enforcement bodies worldwide.”
The move comes as Binance is plagued by a slew of regulatory issues which CEO Changpeng Zhao continues to battle.
“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,” he said.
“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.”
Karen Leong, who has held the GMLRO position since 2018, remains at Binance as Director of Compliance and continues to promote compliance efforts within the organisation.
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.