Binance on September 27th announced A new global law enforcement training program helps law enforcement detect cyberfinancial crimes and help prosecute bad actors.
The program is the industry’s first global collaborative effort. According to the announcement, Binance’s research team has grown exponentially this past year and is ready to share its expertise.
Individuals from the Binance research team with global hands-on practice on this topic will lead the program. These individuals include security experts, former law enforcement officers, analysts, and operatives who helped bring down global cybercriminal organizations such as Hydra.
The announcement also mentions a standard one-day training program that includes face-to-face workshops covering the fundamentals of cryptocurrencies and blockchain, with a particular focus on operating in a regulated environment.
Expanding Binance Research
According to the announcement, Binance’s research team has hosted and participated in over 30 workshops to combat cyber and financial crime in the past year. The team has also contacted law enforcement officers in many countries, including the UK, France, Germany, Canada, South Korea and the Philippines.
Tigran Gambarian, Global Head of Intelligence and Research at Binance, said:
“As more regulators, public law enforcement, and private sector stakeholders turn to cryptocurrencies, there is a growing demand for training to educate and combat cryptocurrency crime. To respond, we are strengthening our team, conducting more training, and working with regulators around the world.”
The team previously helped Uniswap and Curve DNS when they were exploited by cybercriminals in July and August respectively.
Binance’s Recent Efforts
The exchange giant is taking steps to delve deeper into the regulatory side of the crypto space.
To promote responsible regulation of the cryptocurrency industry, Binance launched its Global Advisory Board (GAB) on September 22nd. The GAB included a range of experts in the field, including a former US Senator and global business he leader.
Binance CEO Changpeng Zhao explains GAB’s mission:
“with [board], has significantly enhanced its ability to manage regulatory complexity by leveraging the highest level of expertise available globally. “
The next day, the exchange announced that it had hired a compliance officer for rival exchange Kraken. Stephen Christie has left Kraken as Senior Vice President of Compliance at Binance. In addition to sharing the news, Zhao added that the exchange is considering hiring more personnel to work on his team at Compliance.
