Binance Faces Scrutiny Over $144M in Suspicious Transfers Post-Settlement
- Leaked data suggests Binance failed to prevent transactions by suspicious accounts post-November 2023 settlement.
- These accounts moved $144 million since November, and $1.7 billion since 2021.
- A five-year FinCEN monitorship was established as part of the settlement to ensure compliance.
- One account registered to a Venezuelan woman received over $177 million in crypto from April 2022 to March 2024.
- Accounts received $29 million in USDT from sources later frozen for terrorism financing links.
The leaked information highlights potential compliance gaps at Binance despite its commitment to stricter AML controls following the U.S. settlement in November of last year.
The continuation of suspicious activities raises concerns about the effectiveness of Binance’s regulatory measures and could lead to further financial penalties if obligations are not met.(Source)
