Binance has appointed its former Global Head of Corporate Compliance as the recent global Money Laundering Reporting Officer to the firm. The newly appointed Kristen Hecht will also cover the position of Deputy Chief Compliance Officer (CCO).
Kristen joins Binance with her 17 years of experience, including being a Senior Policy Advisor in the Office of Terrorist Financing and Financial Crimes at the U.S. Department of the Treasury.
She has a record of serving as the CCO at Meta’s first crypto digital asset wallet project, Novi Financial, before being appointed by Binance. Kristen has also served as the Head of Financial Crime Compliance for HSBC China.
Together with Noah Perlman, the Chief Compliance Officer at Binance, Kristen will work to improve Binance’s compliance, upholding AML/CFT principles and practices.
Her role involves engaging with regulators, intergovernmental organizations, and industry bodies to contribute and chart the way forward for well-suited compliance in the crypto industry.
Overseeing country and regional MLRO teams, as well as user protection against financial crimes and regulatory requirements, are among the jurisdiction of her role. “Her long-term goal is to have trusted partnerships and collaboration with regulators, industry bodies, and business partners to identify and mitigate financial crime risk through innovative technology,” Binance said in the announcement.
Kristen acknowledges blockchain’s transformative potential in asset transfer, which aims to enhance access for excluded individuals and businesses. In light of challenges from criminal exploitation in crypto services, she said she would leverage her professional background to continue evolving compliance controls to outpace illicit actors.
Kristen aspires to boost awareness and collaboration with regulators and partners to build trust in the crypto sector.
Binance CCO Noah Perlman said Kristen “is well positioned to further Binance’s global compliance program and evolve it to meet fast-changing regulatory developments and expectations.” He added that Kristen “understands the importance of collaborating with governments and international organizations that are critical to making sustainable advancements and fighting financial crime in the crypto ecosystem.”
This new appointment comes while Binance and its CEO face regulatory compliance and user funds management charges.
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