Binance recently appointed former Financial Action Task Force (FATF) Executive Secretary Rick McDonell and former Head of the Canadian delegation to the FATF Josée Nadeau as new compliance and regulatory advisors. McDonell and Nadeau will provide high-level guidance on Binance’s global compliance and regulatory strategies.
McDonell and Nadeau join Binance to further strengthen the organization’s anti-money laundering (AML) and combating the financing of terrorism (CFT) efforts and to support its overall objective to build stronger relations with regulatory and law enforcement bodies worldwide.
As the former Executive Secretary of FATF and Executive Director to the Association of Certified Anti-Money Laundering Specialists (ACAMS), McDonell brings a wealth of experience to Binance and its efforts to ensure robust AML and CFT standards. McDonell was also the Chief of the United Nations Office On Drugs and Crime’s (UNODC) global program on AML.
Both Nadeau and McDonell bring extensive regulatory and compliance expertise and experience from their AML/CFT consultancy work with numerous governments and the crypto industry, as well as from their previous work with various international organizations including the FATF, the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the World Trade Organization (WTO) and the UNODC.
As advisors to Binance, McDonell and Nadeau will be focused on providing strategic guidance on regulatory policies, along with bolstering the organization’s international AML/CFT programs and best practices. They will also play a key role in supporting Binance’s consultation and liaison with global and national policy and regulatory authorities on issues that affect the global industry to further guide sustainable operation and growth of Binance and the broader cryptocurrency ecosystem.
“Cryptocurrencies and blockchain technology are gaining widespread adoption, with even traditional banking organizations now offering crypto services. These new technologies will certainly change how people and organizations alike manage money,” said McDonell and Nadeau in a joint statement. “We are both delighted to be working with Binance, one of the leading organizations in this new industry, to ensure it has a world-class compliance and risk management program.”
Binance CEO Changpeng Zhao (CZ) said, “We’re thrilled to welcome Josée and Rick to our team and look forward to their strategic guidance on international AML and CFT policies. Their experience across significant global organizations will be of immense value to our team as we look to grow Binance and the industry in a sustainable manner.”
Binance also recently appointed Max Baucus, the former U.S. Senator for Montana and Ambassador to China, as an advisor to Binance, overseeing government relations and regulatory initiatives.