On September 27, Binance announced Global Law Enforcement Training Program, which helps law enforcement detect and prosecute cyber financial crimes.
Binance formed an investigative team in 2021, including security experts, former law enforcement officers, analysts who helped destroy global cybercrime organizations like Hydra.
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Introducing #Binance’s Global Law Enforcement Training Program.
This is a first for the industry. The program is designed to help law enforcement detect financial and cyber crimes and assist in the prosecution of bad actors who exploit digital assets.https://t.co/AWinFlydtO
— CZ 🔶 Binance (@cz_binance) September 27, 2022
Binance expands investigation
Binance’s investigation team organized and participated in more than 30 seminars on fighting cybercrime and finance in 2021. The team has responded to more than 27,000 law enforcement requests since November with an average response time of three days.
The team has also contacted with law enforcement officials from multiple countries, including the U.K., France, Germany, Canada, South Korea and the Philippines.
Binance’s Head of Global Investigations and Intelligence, 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.”
The team previously supported Uniswap and Curve DNS when these platforms were exploited in July and August, respectively.
Binance’s recent efforts
The crypto giant has been making efforts to comply with the regulation of the crypto sector.
Binance launched Global Advisory Board (GAB) on September 22. GAB is comprised of various professionals, including a former U.S. senator and global business leaders.
Binance CEO Changpeng Zhao shared about GAB’s mission:
“With the [board], we’re supercharging our ability to manage regulatory complexity by tapping into the highest level of expertise available in the world.”
Previously, in January 2022, Binance joined the U.S. National Forensics and Training Alliance (NCFTA).
The company has always complied with anti-money laundering regulations, ensuring the licensing of operations in France, Italy and Spain.