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Binance has employed a veteran monetary felony investigation agent to move up suspicious exercise reporting because it continues to strengthen its regulatory compliance entrance.
- Amjad Qaqish, a former felony investigation particular agent on the U.S. Inner Income Service (IRS), was named as the biggest crypto trade’s director of world suspicious exercise reporting on Friday.
- Throughout his 30 years with the tax authority, Qaqish labored on instances referring to fraud, tax evasion, cash laundering and terrorism financing, together with these involving crypto.
- His function will contain monitoring suspicious exercise to forestall “unhealthy actors misusing the cryptocurrency markets,” Binance stated.
- 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 felony exercise. The trade encountered a slew of reprimands from monetary watchdogs earlier this 12 months, forcing it to change into extra proactive relating to compliance.
- Final month, Binance employed Mark McGinness, the previous head of worldwide relations on the Dubai Monetary Providers Authority, as its first chief regulatory liaison officer.
Learn extra: Binance Is Investigating Squid Sport Token, Considers It a Rip-off
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