Recently, the Binance Sanctions Investigations team, with support from the compliance teams at Binance, worked with Israel’s Ministry of Defense to help take down a terrorism financing operation linked to Iran’s Quds Force and Hezbollah. This was Israel’s first operation that targeted the Islamic Revolutionary Guard Corps - Quds Force and a historic case of this magnitude where millions of dollars in cryptocurrency intended for terrorist financing were seized. The team at Binance helped identify and disrupt this terrorist operation.
“We are proud to have been able to provide our support to one of the most significant cases in counterterrorism financing and the successful takedown of Iran’s Islamic Revolutionary Guard Corps - Quds Force funding on the blockchain. Terrorism has no place in a civilized society and we are committed to ensuring the safety and security of the global crypto community through our proactive work. ” -- Binance Sanctions Investigations team.
The Binance Sanctions Investigations team, Financial Crimes Compliance (FCC) team and the Deputy Head of Financial Crimes Compliance Nils Andersen-Röed were recognised by Israel's National Bureau for Counter Terror Financing (NBCTF) and the Israeli National Cybercrime Unit for their contributions to this case and several other operations with Israel for global security.
Last year, the Binance Investigations team responded to over 47,000 law enforcement requests with an average of three days response time which is faster than any traditional financial institution.
Across the globe, we have addressed a number of security-related issues and financial crimes including terrorist financing, child sexual abuse material, nation-state hacking, intellectual property, narcotics smuggling, and investment and romance scams. To date, the team helped law enforcement freeze and seize more than $1bn and more than $900m this year (as of May 2023) alone in illicit transactions and funds.
We created the industry’s first program/coordinated effort (Law Enforcement Training Programme) across the globe to help law enforcement and prosecutors detect financial and cybercrimes and to assist in the prosecution of bad actors. The training includes concepts of blockchain and highlights Binance's AML and investigative methods.
