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Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department (www.businessinsider.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Binance was slapped with a $4.3 billion fine because it let groups like Hamas and ISIS receive funds: Treasury Department::"Can barely buy an AK-47 with 600 bucks," a Binance compliance staffer told his boss in 2019, per regulators.

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[-] JJROKCZ@lemmy.world 8 points 11 months ago* (last edited 11 months ago)

The problem is that the auditors will ALWAYS find wrongdoing, even if it doesn’t exist. If their funding (and therefore their jobs) depend on fines on offending organizations, then everyone is getting found to be fraudulent

[-] stifle867@programming.dev -1 points 11 months ago

That's definitely a real problem that would need to be considered. I'm sure it has been in great length. My gut feeling says it's workable though and the problem being more political than technical.

this post was submitted on 23 Nov 2023

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