Corruption Crime and Compliance: Matt Stankiewicz on The Groundbreaking Binance Criminal Settlement for $4.3 Billion | Thomas Fox – Compliance Evangelist

What is the cost of ignoring compliance? For the world’s largest cryptocurrency exchange, it’s $4.3 billion dollars. In this episode of Corruption, Crime, and Compliance, Michael Volkov and his guest, Matt Stankiewicz, delve into one of the most significant financial crime prosecutions in the history of the Justice Department: Binance Holdings. Under the direction of its CEO, Changpeng Zhao, Binance blatantly disregarded compliance, had no AML programs, and willfully put growth over regulations. Now, they must pay out a settlement See more +

What is the cost of ignoring compliance? For the world’s largest cryptocurrency exchange, it’s $4.3 billion dollars. In this episode of Corruption, Crime, and Compliance, Michael Volkov and his guest, Matt Stankiewicz, delve into one of the most significant financial crime prosecutions in the history of the Justice Department: Binance Holdings. Under the direction of its CEO, Changpeng Zhao, Binance blatantly disregarded compliance, had no AML programs, and willfully put growth over regulations. Now, they must pay out a settlement split among various agencies, including the DOJ, OFAC, FinCEN, and CFTC. In addition to the settlement, Binance has destroyed their reputation at a time when customers are demanding companies they can trust.

Matt Stankiewicz is a compliance consultant, and currently a partner at The Volkov Law Group, specializing in anti-bribery, corruption controls, and compliance programs. He previously served as a member of the Ethics and Compliance Monitoring Team, appointed by the DOJ and EPA, and his casework has included global audits of Fortune 100 companies, sanction violations investigations, risk assessment for third-party distributors, and much more. See less –

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