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Binance Adds Former IRS-CI Expert to Head Global Intelligence and Investigations

source-logo  cryptopotato.com 30 September 2021 15:41, UTC

The world’s largest cryptocurrency exchange, Binance, continues to employ high-profile investigators as part of efforts to boost the company’s compliance measures.

New Audit and Investigations Lead for Binance

In an official press release on Thursday (September 30, 2021), Binance announced that Tigran Gambaryan will be the company’s new VP of Global Intelligence and Investigations. Gambaryan’s hire comes after working 10 years as a Special Agent with the US Internal Revenue Service.

According to the announcement, Gambaryan’s new position “will focus on external and internal investigations to prevent threats and financial losses.” In addition, the audit and investigations team, which will be co-headed by Jimmy Su, Binance’s Chief Security Officer, will also work with regulators and law enforcement agents globally.

While working at the IRS, the former Special Agent led investigations into the Mt Gox hack incident, bitcoin exchange BTC-e, and the Silk Road corruption. Gambaryan’s investigative expertise also covered tax evasion, identity theft, national security, terrorism financing, distribution of child pornography, and bank secrecy act violations.

Commenting on the latest development, the new Binance executive said that he would educate the global law enforcement community on the company’s commitment to ensure a secure ecosystem and tackle cryptocurrency’s illegal use.

Furthermore, Gambaryan said:

“Compliance is the first line of defense. We will work closely with our colleagues in compliance to identify criminals and refer them for prosecution. The constantly evolving crypto industry requires strong cooperation between the industry, law enforcement, and regulators. Our goal is to increase trust in cryptocurrency by establishing Binance as the leading contributor in the fight against human trafficking, ransomware and terrorism financing.”

Binance Ready to Work With Global Regulators

The latest hiring seems to be in line with Binance’s commitment to bolster regulatory compliance. Earlier in September, the company hired Aron Akbiyikian as its Director of Audit and Investigations. Back in August, Greg Monahan joined the crypto exchange giant as the new Global Money Laundering Reporting Officer.

Meanwhile, Binance has come under regulatory scrutiny recently, with the company receiving warnings from several countries about its illegal operations. Consequently, the crypto exchange has announced plans to stop some of its offerings in countries like Australia, Hong Kong, and parts of Europe.

To meet regulatory requirements, Binance CEO Changpeng Zhao stated that the firm will get a new headquarters and reorganize its structure.