It has been announced that Binance has launched a Global Law Enforcement Training Program.
For the first time in the industry, this program has been designed to aid law enforcement in detecting financial and cyber crimes, as well as by assisting in prosecuting bad actors who exploit the digital assets of others.
It’s the first global coordinated effort of its kind. It has been a year since Binance expanded its investigations team, and since then, the initiative has grown exponentially since then.
Fighting Cyber Crimes
A total of over 30 workshops on countering cyber and financial crime have been conducted and participated in by the Binance Investigations team over the past year, in which law enforcement officers are involved. These participants include law enforcement officers from Argentina, Brazil, Canada, France, Germany, Israel, Netherlands, Philippines, Sweden, South Korea, and the UK, among others.
Tigran Gambaryan, Global Head of Intelligence and Investigations at Binance, said:
“As more regulators, public law enforcement agencies, and private sector stakeholders look closely at crypto. We see an increased demand for training to help educate on and combat crypto crimes. To meet that demand, we have bolstered our team to conduct more training and work hand-in-hand with regulators across the globe.”
As part of the training program, world-class practitioners from Binance Investigations, who employ security experts as well as former law enforcement agents, will guide participants through the process. Analysts and operatives have assisted in the downfall of some of the world’s biggest criminal platforms, including Silkroad and Hydra, through their work on those platforms.
In the standard one-day training program, in addition to in-person workshops on fundamental concepts of blockchain, crypto assets, and the legal and regulatory environment they operate in, participants are able to gain insight into the many evolving legal and regulatory environments in which they operate.
It is also outlined in detail in the paper the company’s anti-money laundering (AML) policies and the investigation methods developed by them in order to detect and prevent criminal behavior in the company.
Binance recently secured approvals and registrations from France, Italy, and Spain, among other countries, for the use of its services, making it one of the few crypto exchanges to achieve such approvals and registrations within the G7 countries through the implementation of robust compliance and anti-money laundering programs.
A total of over 27,000 law enforcement requests have been answered by Binance Investigations since November 2021. The team responded in an average of three days, which is much faster than any traditional financial institution could respond.
