Main Takeaways

  • Binance has partnered with INHOPE to strengthen efforts against online child sexual abuse material (CSAM), reinforcing our commitment to digital safety.

  • As financial service providers come to play a critical role in disrupting illicit transactions, Binance's expertise in blockchain analysis enhances detection and prevention.

  • Through collaboration with INHOPE, Binance expands its law enforcement support, working with global agencies to combat financial crimes linked to online abuse.

Digital financial systems are increasingly exploited by bad actors to facilitate illegal activities, including the distribution of child sexual abuse material (CSAM). As the global leader in the digital-asset space, we recognize our responsibility in ensuring the security of the digital financial ecosystem. That’s why we are joining forces with INHOPE, a global network dedicated to combating CSAM, as a partner to bolster online safety initiatives.

Strengthening the Fight Against Online Exploitation

Financial organizations have emerged as key players in the fight against online child exploitation, with their ability to track and disrupt payment flows playing a crucial role in prevention efforts. At the 2024 INHOPE Summit, experts highlighted how blockchain analysis significantly improves detection and reporting mechanisms.

Our partnership with INHOPE enhances these efforts by leveraging Binance’s intelligence capabilities to support real-time detection and reporting of illicit transactions linked to CSAM, collaborate with law enforcement agencies worldwide to track and dismantle criminal networks, and provide technical expertise and resources to prevent misuse of decentralized payment methods.

According to Samantha Woolfe, Head of Network Expansion and Global Partnerships at INHOPE, decentralized financial systems are increasingly being exploited by bad actors. She emphasized that working with Binance “strengthens global efforts to detect, report, and remove illegal content, ensuring a safer internet for all.”

Binance’s Role in Enhancing Online Safety

At Binance, our highest priority is protecting users and securing the blockchain ecosystem. Our Financial Intelligence Unit (FIU), led by Nils Andersen-Röed, is composed of former law enforcement agents, security analysts, prosecutors, and regulators who specialize in combating crimes such as human trafficking, child exploitation, terrorism financing, and ransomware.

As part of our partnership with INHOPE, we will expand intelligence-sharing with child protection networks and financial institutions, deploy advanced blockchain analytics to trace illicit transactions, and strengthen collaboration with global law enforcement agencies to disrupt bad actors’ activity.

“We are proud to partner with INHOPE and bring our investigative expertise to this critical cause,” said Nils Andersen Röed, Binance’s Global Head of Financial Intelligence Unit. “By combining our resources with INHOPE’s extensive network, we aim to thwart online criminal activity, improving the safety of the digital environment for everyone.”

A United Front Against Financial Crime

Binance remains committed to advancing collaborative security in the digital space by working alongside public and private-sector partners. By integrating cutting-edge security measures, proactive blockchain analysis, and strong global partnerships, we work toward preventing the exploitation of vulnerable individuals. Together with INHOPE, we will take decisive steps to disrupt illicit transactions and strengthen online safety worldwide.

Further Reading

  • Galvanizing Global Good Will: How Binance Pay Helped Disaster Relief in Brazil

  • Thai Police’s Operation Cyber Guardian Claims Success with Binance's Support

  • Royal Malaysia Police Recovers a $1.6 Million Kidnapping Ransom With Support From Binance