US EditionAustralia Orders Audit of Crypto Trading Giant Binance
AUSTRAC demands Binance Australia's external auditor appointment within 28 days due to inadequate anti-money laundering and counter-terrorism financing controls and oversight.
- Australia's anti-money laundering regulator AUSTRAC has directed Binance Australia to appoint an external auditor after identifying serious concerns with its anti-money laundering and counter terrorism financing controls.
- Binance founder Changpeng 'CZ' Zhao pleaded guilty in 2023 to violating US anti-money laundering laws and served a four-month prison sentence in 2024.
- Binance Australia's general manager Matt Poblocki said the company remains committed to maintaining best compliance standards and will enhance its capabilities.
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Australia orders audit of crypto trading giant Binance
Australia has ordered the local arm of the world's largest cryptocurrency exchange, Binance, to appoint an external auditor after identifying "serious concerns" with its money laundering and terrorism financing controls.
Australian Regulator AUSTRAC Orders External Audit of Binance
The post Australian Regulator AUSTRAC Orders External Audit of Binance appeared on BitcoinEthereumNews.com. Australia’s regulator AUSTRAC has ordered Binance’s local unit to undergo an external audit The order was triggered by “serious concerns” over weak AML controls and poor management This action is part of a continuing pattern of global regulatory scrutiny faced by Binance The regulatory spotlight is once again fixed on Binance. Australia’s …
Australia orders audit of crypto trading giant Binance – France 24
"AUSTRAC has directed Binance Australia to appoint an external auditor after identifying serious concerns with the crypto exchange's anti-money … Source link The post Australia orders audit of crypto trading giant Binance – France 24 first appeared on Crypto News Wire.
Binance Faces Austrac Scrutiny Over AML Controls Amid Global Compliance Concerns
Austrac’s latest move against Binance Australia underscores the growing scrutiny and regulatory expectations placed on cryptocurrency exchanges operating in high-risk environments. The order for Binance to appoint an external auditor stems from serious concerns about its money laundering controls, highlighting the critical need for robust compliance frameworks in the crypto sector. Source
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