Global law enforcement training program Launched by Binance
The global law enforcement training program is launched by Binance and Law enforcement can use this new program to detect cyber financial crimes and prosecute criminals.
The organization added that the training course is overseen by members of the Binance Investigations team, a group of security specialists, and former law enforcement officers. In addition to world-class practitioners, Binance investigations employ security experts, which also includes analysts and operatives who have taken down many of the world's largest criminal platforms, including Silkroad and Hydra, to lead the training program.
The announcement also mentioned a standard one-day training course comprising in-person workshops covering the fundamentals of blockchain technology and digital currency as well as information on the changing legal and regulatory framework in which they operate. Additionally, Binance's anti-money laundering (AML) guidelines are also covered as the investigative techniques the business has created to identify and stop illicit activity.
The first international coordinated effort in the sector is this program. The Binance investigations team has reportedly expanded significantly over the past year and is eager to impart its knowledge, according to the release. Binance established a Global Advisory Board (GAB) on September 22 to advance responsible governance of the cryptocurrency sector. The GAB was composed of various subject matter specialists, including a former U.S. senator and prominent international corporate figures.
According to the business, the Binance investigations team has conducted and participated in more than 30 anti-cyber and financial crimes workshops over the past year. The business had engaged with law enforcement in a number of nations, including Argentina, Brazil, Canada, France, Germany, Israel, Netherlands, Philippines, Sweden, South Korea, and the UK, among others.
The Binance Investigations team has responded to over 27,000 law enforcement requests since November 2021 with an average response time of three days, which is quicker than any conventional financial institution.
A day later, the exchange declared that it had hired the compliance director of Kraken, its rival exchange. Steven Christie departed Kraken to work as senior vice president of compliance for Binance. Further, information was shared that the exchange was trying to expand its compliance staff.
Binance recently obtained approvals and registrations in France, Italy, and Spain, among other countries, as a result of implementing strong compliance and AML systems, making the exchange one of the few cryptocurrency businesses to do this within G7 nations.
CBW - External Analyst