A former senior financial crime investigator at Binance told the IRS in May that Binance management ignored calls for an internal investigation into approximately 2,000 accounts suspected of being used by individuals in Iran and involving the flow of about $1.2 billion. The investigator, who was suspended and dismissed after investigating two accounts suspected of violating U.S. sanctions by transferring funds to Iran, has received a subpoena to testify before a federal grand jury in Washington, D.C.
Binance responded that it had not violated Iranian sanctions, and that the investigators involved were dismissed for violating the company's data privacy policy. The investigation into the relevant accounts was never closed, and the company will cooperate with law enforcement. No charges have yet been filed in the investigation. (Source: Forbes)
