tldr; Binance reportedly failed to prevent suspicious accounts from moving $144 million after its 2023 settlement with U.S. authorities, which required stricter AML controls and a five-year FinCEN monitorship. Leaked files revealed transactions by 13 accounts linked to nations like Venezuela and Syria, some tied to terrorism financing. Binance stated it complies with sanctions and operates under monitorship oversight, but further penalties could arise if obligations under the settlement are not met.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Odd-Radio-8500 on
Not a good news at all! This will only put more pressure on Binance and they could even face some restrictions.
2 Comments
tldr; Binance reportedly failed to prevent suspicious accounts from moving $144 million after its 2023 settlement with U.S. authorities, which required stricter AML controls and a five-year FinCEN monitorship. Leaked files revealed transactions by 13 accounts linked to nations like Venezuela and Syria, some tied to terrorism financing. Binance stated it complies with sanctions and operates under monitorship oversight, but further penalties could arise if obligations under the settlement are not met.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Not a good news at all! This will only put more pressure on Binance and they could even face some restrictions.
^(!tip 1)