Binance Under Investigation for Suspected Illicit Activities
European Union authorities have raised concerns regarding Binance’s operations in Ireland and Malta, indicating potential involvement in illicit activities such as money laundering and tax evasion.
According to investigators, there are suspicions that Binance may be falsifying its accounts and operations across various EU jurisdictions, intermingling funds from different countries to evade regulatory and tax scrutiny.
The difficulties in tracking Binance’s operations in Ireland and Malta have raised additional red flags, despite the company claiming to have a significant number of employees. Official records show unexplained revenue streams attributed to “consultancy services,” and the companies lack an active operational space beyond their registered address, which they share with other entities.
The difficulties in tracking Binance’s operations in Ireland and Malta have raised additional red flags, despite the company claiming to have a significant number of employees. Official records show unexplained revenue streams attributed to “consultancy services,” and the companies lack an active operational space beyond their registered address, which they share with other entities.
In certain instances, officials suspect that Binance may be inflating employee headcounts by including freelancers who primarily serve promotional roles, thereby misleading the actual size of their workforce.
