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hey yo Chico Army today I have for you a special episode which Dives deep into the dark side of
crypto money laundering druga's terrorism the dark web they call me the Dark Knight of crypto
for a reason so jokers of cryptocurrency get ready for my Batman because it's time for Chico crypto
if you didn't know the biggest crypto exchanges and Protocols are helping Finance Bad actors like
dealers of drugs and terrorist organizations letting them launder money freely across their
products now I know some of you don't want to hear it because you like to sniff the leader's butt but
this exchange at the heart of it all is yeah it's Finance get your brown nose out of cz's Bungholio
and listen for a second because this video goes deep not a joke so to begin we need to understand
that binance has knowingly kept their anti-money laundering checks like kyc and AML very relaxed
even when they knew it was happening on their exchange money laundering January of last year
Reuters investigated and reported this and this is what their report said Reuters conducted dozens
of interviews with former senior employees of binance advisors and business partners
and reviewed hundreds of documents including confidential correspondence between binance
and National regulators and internal company messages the reporting shows binance is operated
outside rules that govern traditional Financial firms and many crypto Rivals an opaque corporate
structure has enabled binance to offer products that many national Regulators don't allow locally
registered firms to sell binance has repeatedly declined to specify in which jurisdiction its main
online exchange is based complicating Regulators at efforts to oversee its activities and it has
minimized costly client background checks other findings include on at least four occasions
binance declined to provide detailed answers about its operations when asked by Financial authorities
and business partners according to regulatory filings and people with direct knowledge an
encrypted telegram messages seen by Reuters Finance staff including Chief compliance officer
Samuel Lynn and former Global money laundering reporting officer Karen Leong raised worries about
weak know your customer checks aimed at preventing money laundering three former senior Finance
employees told Reuters they voiced such concerns to Zao CZ himself but he ignored them binance
acted against its own compliance Department's assessment by continuing to recruit customers in
seven countries including Russia and Ukraine judge to be extreme money laundering risk in an internal
report circulated in early 2020 that was seen by Reuters last year binance watered down compliance
rules arranged with a German business partner causing disquiet among some Finance staff German
police and lawyers representing over 30 suspected fraud victims sent binance dozens of letters seen
by Reuters seeking information about several million euros that they suspect were laundered
through the exchange uh yikes but the damaging one we need to investigate further is binance
acted against its own compliance Department's assessment by continuing to recruit customers
in seven countries including Russia and Ukraine and one more Iran if this is true and finance
was betting money laundering for Russians they will get the strong arm of the law and eventually
The Exchange will be shut down having one of these land Pages seized by the FBI when you
go to binance.com this could never happen Chico they aren't in the USA the FBI can't shut down
exchanges in other countries and jurisdictions oh really that's why the FBI and Ukraine authorities
just sees nine exchange domains on money laundering allegations the coin Telegraph article
on the states that sees domains include the websites 24xbtc.com 100btc dot Pro pricechange.com
trustexchange.org and bitcoin24.exchange the FBI noted the exchanges which offered services in
both English and Russian featured LAX anti-money laundering measures and collected minimal know
your customer information or none at all just like binance so binance is known to be aiding
Russia and Ukrainian pro-russian regions but what else has this Joker been up to
well let's keep going Forbes reported last year from an investigation by the D.A that binance
was used by druga cartels to launder millions of dollars through the exchange and then once again
Reuters did an investigation just last year into binance and they found they were allowing dealers
to operate on their exchange the report States Finance from 2017 to 2021 process transactions
totaling at least 2.35 billion stemming from hacks investment frauds and illegal drug sales
Reuters calculated this from an examination of Court records statements by law enforcement and
blockchain data compiled for the news agency by two blockchain analysis firms two industry
experts reviewed the calculation and agreed with the estimate separately crypto research firm chain
Alice is hired by the U.S government agencies to track illegal flows concluded in a 2020 report
that binance received criminal funds totaling 707 70 million in 2019 alone now it goes much cheaper
than this as you guys know in America we have a major fentanyl crisis where Chinese manufacturers
are shipping the chemical to Mexico where the cartels flood it within the United States I did
an investigation into this 10 months ago and found that Finance was used by these Chinese
manufacturers and the Mexican cartels although this is just the tip of the iceberg it goes deep
deep on why Regulators specifically the doj will come after binance if you didn't know America is
not fond of the country Iran from this timeline of Iran sanctions we can see it says since 2005 the
United States has designated Iranian individuals companies and organizations for involvement
in nuclear proliferation ballistic missile development support for terrorist groups and
human right abuses these designations have been made under the following presidential executive
orders and pieces of legislation of which they list the hundreds of them below if a crypto
exchange or protocol is helping Iran move money they are in some of the hottest water ever the
doj will be after them so is binance and binance connected protocols doing this of course they
are trm Labs just put out a report on the Iranian crypto economy the report found most of the volume
transacting in Iran for crypto happened on the Tron chain and the BNB chain combined they make
up 90.1 percent of all transaction volume and then as we can see from counterparties sending
funds to Iran exchanges 90.3 percent came from centralized exchanges aka the finance exchange
because under the section obfuscation it says although Iranians overwhelmingly prefer to use
domestic crypto exchanges trm Labs has identified instances by Iranians turning to vpns and fake
IDs to circumvent the compliance systems of international exchanges that bar users from
sanctioned jurisdictions AKA binance's relaxed kyc allows them to use the exchange even though they
one thousand percent shouldn't be now the same trm Labs who put out that report on Iran just had
the doj on for a talk about illicit cryptocurrency activities and they are going after the Bad actors
let's listen into what Sanjeev bakar U.S digital currency lead Council for the doj had to say these
investigations are happening in real time with exigent assets internationally and then finally
the third aspect we have the again the training capacity importance the reality of real-time
sharing and information deconfliction but also the importance of having a uniform anti-money
laundering combating the financing terrorism we refer to that as AML CFT regular missions
throughout and what I mean by that is reading the FED as a financial action task force we're
looking at the Mika the markets and crypto assets and being able to say how can we have consistent
regulation for crypto assets domestic and abroad so criminals one don't have the opportunity to
have Safe Harbor in a foreign country something we often call judicial Arbitrage and two making
sure that the countries are consistent in their understanding of the technology and the regulation
of it so those are three recommendations that came out of the report with the goal being to
strengthen the cooperation of our International counterparts as we move forward in this digital
asset Arena International cooperation to identify and stop the bad actors is coming and it's already
happening and if binance and finance's Buddy Tron are aiding Iran it's all over for them which they
are now some of you may say how is Justin's son's Tron finance's buddy well they're good friends
like really good friends sees these Finance lifted Justin Sons projects like BitTorrent think and
many many more to where they are today and here's a picture of them with scam boys Sam bankman who
also was lifted to Glory by CZ binance remember birds of a feather they flock together and sees
the unjust and flock a little too close like closer than you would imagine well in other news
lover boy Justin's son got in on the action of cz's tweet posting this which literally makes me
want to throw up in my mouth huge congrats on BNB a new Bitcoin with a very strong heart emoji now
like I said I think Justin and CZ might be more than just friends and I have a little song I would
like to sing to explain Justin's relationship with good old CZ every time you arise meet
he wants you more than yeah it's almost more than he can take
it's easy when you scan thee he can feel how much you love me and it just blows him that way
he's never been this close to anyone CZ you can hear your thoughts give Justin that cream
I don't know how you screw all these Noobs just and so in love with you the tweets just get better
he wants to spend the rest of his life with you by his side Joseph forever [Music]
every little thing that you do Justin is amazed by you cheers viewers I'll see you next time
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