Binance has employed a veteran monetary prison investigation agent to head up suspicious exercise reporting because it continues to strengthen its regulatory compliance entrance.
- Amjad Qaqish, a former prison investigation particular agent on the U.S. Internal Revenue Service (IRS), was named as the biggest crypto trade’s director of worldwide suspicious exercise reporting on Friday.
- During his 30 years with the tax authority, Qaqish labored on circumstances relating to fraud, tax evasion, cash laundering and terrorism financing, together with these involving crypto.
- His function will contain monitoring suspicious exercise to forestall “bad actors misusing the cryptocurrency markets,” Binance mentioned.
- The rent is the most recent of a sequence of appointments by Binance because it tightens up on regulatory compliance whereas tackling fraud and different prison exercise. The trade encountered a slew of reprimands from monetary watchdogs earlier this yr, forcing it to turn out to be extra proactive relating to compliance.
- Last month, Binance employed Mark McGinness, the previous head of worldwide relations on the Dubai Financial Services Authority, as its first chief regulatory liaison officer.
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