Binance, the largest cryptocurrency exchange in the world, has announced that Kristen Hecht, who was formerly the company's Global Head of Corporate Compliance, is now Binance's new Deputy Chief Compliance Officer (CCO) and Global Money Laundering Reporting Officer (GMLRO). Hecht has 17 years of experience, including almost 10 years with the U.S. Treasury Department's Office of Terrorist Financing and Financial Crimes.
“As an organization that is obsessed with its users and has come a long way toward building a best-in-class compliance program comparable to global financial institutions, I hope to raise further awareness with regulatory and industry partners about the crypto industry to build trust and collaborate in this fast-developing space,” Hecht said, according to an Aug. 3 blog post by Binance.
According to the blog post, before joining Binance, Hecht worked as a Senior Policy Advisor in the Treasury's Office of Terrorist Financing and Financial Crimes and as Chief Compliance Officer at Meta's digital asset wallet project, Novi Financial, according to a Binance blog post. Hecht has also previously worked at HSBC, where she was the head of Financial Crime Compliance for HSBC China.
In her new role, Hecht will support Noah Perlman, Binance’s Chief Compliance Officer, in enhancing Binance's compliance program through innovative technology, with a focus on anti-money laundering and counter-terrorist financing, according to the blog post.
“We are thrilled to have Kristen step into this new role where she is well positioned to further our global compliance program and evolve it to meet fast-changing regulatory developments and expectations,” Perlman said. “With her seasoned background, she 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.”
Binance said Hecht's immediate goals include engaging with regulators and intergovernmental organizations to participate in discussions on compliance in the crypto industry, according to the blog post. Hecht will also be working with Binance’s business leaders to advance the company's goals related to compliance and user protection. Hecht's "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."