Wu said that the Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an audit of Binance Australia due to serious issues with its anti-money laundering (AML) and counter-terrorism financing (CTF) controls. AUSTRAC pointed out that the recent independent review of Binance was insufficient, and there were issues such as high employee turnover, lack of local resources, and management oversight, raising questions about its compliance governance level. Binance Australia must nominate an external auditing firm within 28 days, which will be reviewed and selected by AUSTRAC.