How real is Binance?

Is Binance a legitimate and reliable cryptocurrency exchange platform? Many users have praised its advanced trading features, vast selection of cryptocurrencies, and high liquidity. However, with the rise of scams and fraudulent exchanges in the crypto space, it's understandable for some to question its authenticity. How does Binance ensure the security of its users' funds and personal information? What measures does it take to prevent money laundering and other illegal activities? And, how does it stack up against other popular exchanges in terms of reputation and trustworthiness?