Following Binance’s plan to strengthen its compliance protocol, the giant crypto exchange has appointed Greg Monahan, a former IRS investigator, as its new Global Money Laundering Reporting Officer (GMLRO). Monahan has nearly 30 years of government service as a Treasury investigator, focusing on tax, money laundering and other finance-related crimes. During his service, he led complex international investigations and took down some of the most prolific criminals and terrorist groups.

Greg Monahan will focus on expanding Binance’s international anti-money laundering programs and strengthening the firm’s compliance with crypto regulations worldwide. He will replace Karen Leong as Binance’s GMLRO, while Leong will take over as the new Director of Compliance.

Binance has been under scrutiny in some countries recently, notably the United Kingdom, Germany, Singapore and Thailand. To solve this issue, Binance has devoted valuable resources to acquire individuals with government experience, including former executives from the Financial Action Task Force, Rick McDonell and Josée Nadeau as Compliance and Regulatory Advisors, and former Democratic Senator Max Baucus as Policy and Government Relations Advisor.

Binance promises to constantly expand its capabilities, in order to establish a safer ecosystem for all of its users and safeguard their interests, by following regulatory guidelines set for crypto exchanges around the world.