Amid growing regulatory scrutiny, Binance has hired Greg Monahan of the US Treasury to lead the Money Laundering Reporting (GMLRO) and Law Enforcement Administration.
Binance reports that Greg Monahan has nearly 30 years of civil service experience, most of which he worked as an investigator for the US Treasury. He investigated tax crimes, money laundering and other related financial crimes. He led complex international investigations that resulted in the capture of some of the major cybercriminals.
“My efforts will focus on expanding Binance’s international anti-money laundering (AML) programs, conducting investigations that will help make the crypto industry a safer place, and strengthening Binance’s relationships with regulators and law enforcement agencies around the world,” Monahan said.
Binance CEO Changpeng Zhao welcomed Monahan’s appointment and expressed hope that the strengthening of the security team will provide Binance with new opportunities to protect the interests of the exchange and the crypto community as a whole.
Since 2020, Binance has grown its international team and compliance advisory board 5x. Karen Leong, who has served as CEO of GMLRO since 2018, remains Binance’s Chief Compliance Officer and will continue to monitor the exchange for compliance with legal requirements and regulations.
Binance has come under scrutiny from global regulators on numerous occasions. For this reason, she had to restrict some of her services, such as futures trading in several countries of the European Union.
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