Richard Teng@_RichardTeng
Irresponsible and misleading press articles based on anonymous sources (whether including possibly disgruntled ex-employees or otherwise) does injustice to the great work of our more than 1300 compliance staff working tirelessly to uphold global standards.
Facts:
1. Binance complies and upholds global AML and applicable sanctions standards.
2. Similar to other financial institutions, we employed and relied on industry-leading 3rd party tools such as Elliptic, Chainalysis and TRM to conduct real time transaction monitoring, sanction screening, blockchain analysis etc to prevent illicit activity. These efforts enable us to identify and prevent illicit activities, and uphold AML and sanction standards
3. Where we detect possible links to sanction activities, we take a proactive approach to report them to law enforcement agencies and work with the agencies to counter such activities. This was done by our compliance team for the cases cited in the report.
4. We cooperate proactively with law enforcement agencies worldwide, sharing intelligence, responding to requests, and supporting investigations to combat financial crime. These efforts are widely recognised by law enforcement agencies globally. Just yesterday, I personally received a commendation letter from the Hong Kong Police Force for our tireless efforts to investigate and fight illicit crimes.
5. Compliance is a journey with evolving standards and the fight against illicit crimes is an never ending effort. This is especially so with the increasing sophistication by bad actors employing tools and techniques to avoid detection. We will continue our tireless efforts to fight illicit crimes and uphold global integrity