•Binance has partnered with the Association of Certified Sanctions Specialists (ACSS) to strengthen its compliance capabilities.
•The Binance sanctions team will undergo a training process with the ACSS to help with money laundering reporting, compliance operations, and special investigations leads.
•The ACSS will provide the team with the latest OFAC guidelines on developing sanctions compliance programs and help them keep abreast with sanctions commands.
Binance, the world’s leading cryptocurrency exchange, has recently announced its partnership with the Association of Certified Sanctions Specialists (ACSS). The move comes as part of Binance’s ongoing efforts to strengthen its compliance capabilities and provide upskilling opportunities for its compliance team.
The partnership entails Binance’s sanctions team going through a mandated training process with the ACSS. This training program will provide the team with the latest OFAC guidelines on developing sanctions compliance programs. Furthermore, the ACSS will also help the team to stay up to date with sanctions commands and educate them on the risks of violations across multiple jurisdictions.
Chagri Poyraz, Binance’s Global Head of Sanctions, commented on the partnership and said, “By working closely with the ACSS, we will take our sanctions compliance standards to a level that is recognized by a reputable industry association and provide upskilling opportunities for our compliance team. At the end of the day, we want to continue setting the industry standard for security and compliance.”
The partnership with the ACSS marks Binance’s latest move to strengthen its compliance capabilities. The move comes at a time when the cryptocurrency industry is facing increased regulatory scrutiny. By partnering with the ACSS, Binance is ensuring that its team is well-trained and well-equipped to handle the complexities of the regulatory landscape.
The ACSS is an industry leader in providing sanctions training for multinational corporations and financial institutions. The organization was founded in 2018 and provides its members with necessary educational resources and benefits. This makes it the perfect fit for Binance, as the exchange is looking to set the industry standard for security and compliance.
The partnership between Binance and the ACSS is a clear indication of the exchange’s commitment to compliance and security. It also serves as a reminder to other exchanges that compliance should be taken seriously and that there are organizations that can help them in this regard. It will be interesting to see how this partnership will shape the future of the cryptocurrency industry.