🇦🇺 Binance Australia Faces Regulatory Scrutiny Over AML Controls

AUSTRAC, Australia's financial intelligence agency, has ordered Binance Australia to appoint an external auditor to review its anti-money laundering and counter-terrorism financing (AML/CTF) systems. The directive follows an ongoing regulatory review that identified significant concerns with the exchange’s compliance measures.

The external auditor will assess Binance’s operations and report back to AUSTRAC within 120 days. This move highlights growing regulatory pressure on crypto exchanges worldwide to strengthen their compliance frameworks and prevent illicit financial activities.

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