US EditionBinance Allowed Suspicious Accounts to Move $144 Million After 2023 U.S. Settlement: Report
Binance processed $144 million in suspicious payments after its 2023 plea deal despite a $4 billion fine, with $1.7 billion total linked to lax anti-money laundering controls.
- On Monday, the Financial Times reported that Binance processed $144 million in suspicious payments after its 2023 plea deal involving a record fine of more than $4 billion.
- Anti‑money‑laundering lawyers told the report many obvious red flags would be visible to compliance teams at traditional banks, and the report says plea-mandated practices to block non-PII accounts remain exploited.
- Investigators identified 13 specific Binance accounts making $1.7 billion in payments, including a Brazilian man with an ID over two decades old and a Venezuelan woman who changed bank details 647 times in fourteen months.
- Binance responded that it called the allegations 'grotesquely sensationalist', following a similar ICIJ report, while critics cited Changpeng "CZ" Zhao's pardon by President Donald Trump and Binance's $2 billion ties to World Liberty Financial.
- Binance's business links show deeper ties with World Liberty Financial, including USD1 stablecoin integration, while Samourai Wallet developers remain unpardoned as Keonne Rodriguez begins a five-year sentence and Trump said last week he would consider their pardon.
13 Articles
13 Articles
Report citing internal files that would have been emptied, detailing thousands of transactions; crypto platform claims to have 'zero tolerance' for illegal activities
Despite a historic agreement with the US authorities in 2023 and strict commitments in the fight against money laundering, Binance would have failed to block suspicious accounts, which would have transferred huge sums of money, raising serious questions about the real effectiveness of the controls put in place. The article Simple error or dangerous laxism? L-exchange crypto Binance under tension appeared first on Cointribune.
Binance Processed $1.7B in Terror-Linked Trades Despite $4.3B Fine
In the shadowy corners of the cryptocurrency world, where billions flow through digital pipelines with minimal oversight, Binance—the globe’s dominant exchange—has once again found itself under intense scrutiny. Recent revelations from leaked internal documents paint a troubling picture of persistent lapses in compliance, allowing high-risk accounts to thrive long after the company vowed to reform. According to an investigation by the Financial …
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