Cryptocurrency: Binance Unveils Global Law Enforcement Training Program Aimed At Battling Cybercrime
Binance exchange has introduced a new Global Law Enforcement Training Program that will aid in the investigation of cyber-financial crimes in the crypto space.
This program which was launched on September 27, 2023, is the industry’s first global coordinated effort to assist law enforcement agencies fight cybercrime using Blockchain technology.
A day later, Binance exchange declared that it had hired Kraken’s compliance director, a competitor exchange. Steven Christie departed Kraken to work as senior vice president of compliance for Binance exchange. Binance exchange CEO Changpeng Zhao shared the information and also mentioned that the exchange was trying to expand its compliance staff.
The Binance exchange investigations team has reportedly expanded significantly over the past year and is eager to impart its knowledge, according to the release.
The curriculum will be directed by members of the Binance exchange investigations team who have extensive international experience in the field. These people include security specialists, ex-law enforcement officers, analysts, and operators who assisted in the destruction of large-scale cyber-criminal groups like Hydra.
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The curriculum will be directed by members of the Binance exchange investigations team who have extensive international experience in the field. These people include security specialists, ex-law enforcement officers, analysts, and operators who assisted in the destruction of large-scale cyber-criminal groups like Hydra.
The release also included information about a typical one-day training course that comprises in-person workshops outlining the fundamentals of cryptocurrency and blockchain with a focus on the regulatory framework in which they operate.
Binance exchange, in the release, said over 30 workshops on preventing financial and cybercrime were held over the course of the previous year and were both hosted by and attended by Binance’s investigative team.
According to Binance exchange, its team has also made contact with law enforcement representatives from a number of nations, including the Philippines, South Korea, France, Germany, Canada, and the United Kingdom.
Speaking in this regards, Binance’s Global Head of Intelligence and Investigations, Tigran Gambaryan, said: “As more regulators, public law enforcement agencies, and private sector stakeholders look closely at crypto, we are seeing 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.”
When Uniswap and Curve DNS were attacked by hackers in July and August, the Binance exchange team provided support.
The massive exchange has been making efforts to delve more deeply into the regulatory aspect of the cryptocurrency world.
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.
On his part, Binance CEO Changpeng Zhao while making remarks on the innovation, said: “With the [board], we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available in the world.”
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