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After navigating significant challenges in the United States regarding money laundering allegations that led to the resignation of its former CEO, Changpeng Zhao (CZ), cryptocurrency exchange Binance finds itself under scrutiny once again, this time in Australia.
Binance’s AML And CTF Controls Under Fire
The Australian Transaction Reports and Analysis Centre (AUSTRAC), the nation’s financial intelligence agency, has mandated that Binance’s local arm appoint an external auditor due to “serious concerns” about its anti-money laundering (AML) and counter-terrorism financing (CTF) controls.
AUSTRAC’s concerns emerged following a recent independent review of Binance Australia’s operations, which the agency described as “limited in scope relative to its size, business…
