Former Binance Investigator Says Management Ignored Internal Investigation Into Iran-Linked Accounts

Odaily: A previously undisclosed search warrant shows that a former senior financial crime investigator at Binance told the U.S. Internal Revenue Service (IRS) in an interview in May this year that Binance management ignored calls to launch an internal investigation into about 2,000 accounts suspected of being used by individuals inside Iran and involving roughly $1.2 billion in fund flows. The investigation was codenamed "Operation Loclock." The investigator had previously been suspended along with several colleagues for investigating two accounts suspected of violating U.S. sanctions and transferring funds to Iran, and later left the company. The person has now received a subpoena to testify before a federal grand jury in Washington, D.C. Binance responded that the company has not violated Iran sanctions, that the investigators involved were dismissed in accordance with company rules for violating its data privacy policy, that the investigation into the relevant accounts was never closed, and that the company will fully cooperate with law enforcement. No charges have been filed in the investigation so far.