Binance bolsters up its compliance and risk program with new recruits (Fintech Fridays with Binance Africa Ep.12)

The Sound of Accra Podcast

In the final episode of the twelve part Fintech Fridays Special Edition with Binance Africa titled, "Binance bolsters up its compliance and risk program with new recruits", we're diving into the latest strategic moves by Binance, the powerhouse behind the world's largest cryptocurrency exchange.

As Binance rapidly matures within the industry, they're stepping up their game by bolstering their compliance and risk program through a series of significant new hires.

This episode covers:

• How these expert recruits, including industry veterans from financial giants like PayPal, Morgan Stanley, HSBC, and more, are positioning Binance at the forefront of security and regulation
• The implications for Binance's global user base and insights from Binance's Chief of Compliance, Noah Perlman
• How Binance's efforts are shaping the future of cryptocurrency security

A special thanks to our sponsors, Binance Africa, for supporting this episode.

About Binance

Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://bit.ly/4gbOtZR

Disclaimer: For the avoidance of doubt, the use of the terminology of depositing or withdrawing does not mean that Binance receives, holds, or releases any fiat currency through its platform nor does it contemplate any deposit taking, remittances or similar activity by Binance.

Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser before investing. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

Episode Agenda

Introduction to the Episode

• Overview of the FinTech Friday series
• Mention of it being the final episode of a 12-part series
• Focus on blockchain technology and cryptocurrency
• Highlighting Binance's new recruitments for compliance and investigation teams

Binance's Compliance and Investigation Teams Expansion

• Binance's status as a global blockchain ecosystem
• Rapid maturation of the industry and the company
• Planned increase in compliance staff to over 645 employees by end of 2024
• Current employment details of compliance staff and contractors

Key Compliance Hires at Binance

• Todd McElduff's appointment as Enterprise Compliance Director
• Responsibilities with law enforcement and special investigations
• Transaction monitoring, market surveillance, and sanctions compliance
• Todd's 20 years of experience in traditional finance and fintech
• Lana's role as Business Compliance and Enterprise Wide Risk Assessment Director
• Providing compliance control and advice across various business units
• Lana's experience in financial services, regulatory compliance, and financial crime prevention
• Pauline Chan's role as Compliance Specialist
• Focus on regulatory audits and exam in the global audit issue management team
• Previous roles in financial services and banking

Additional Recruits in the Compliance Risk Team

• Celine Anaya as Special Investigation Specialist for France
• Kana Akyurek as Special Investigation Specialist for Turkey

Comments from Noah Perlman, Binance Chief of Compliance

• Active hiring for top compliance talent
• Binance's commitment to protecting users and working with regulators
• Achieving the 20th global regulatory milestone

Timestamps

00:00 Binance expands compliance team, hires experienced director.

05:16 Binance hires top compliance talent to strengthen standards.

07:14 Binance proactively strengthens compliance in cryptocurrency space.

References

Binance - https://bit.ly/4gbOtZR