A former employee of the U.S. Internal Revenue Service (IRS), Amjad Qaqish joined the Binance cryptocurrency exchange team. He will lead the work of the international group for SAR.
In his previous role, Qaqish handled matters related to tax evasion, money laundering and the financing of terrorism, including the use of digital assets.
At Binance, the specialist will oversee a team responsible for monitoring suspicious activity to prevent fraud and combat illicit activity.
“My interest in the cryptocurrency and digital assets industry began many years ago […]. The speed of development in the market means that curbing unscrupulous participants is essential to the sector’s long-term success,” said Qaqish.
In late September Binance hired two former IRS agents: Tigran Gambaryan, who worked on Silk Road, Mt. Gox and BTC-e cases, and Matthew Price. The first took the post of Vice President for Global Intelligence and Investigations, the second — Senior Director of Investigations.
Earlier, former Europol darknet specialist Nils Andresen-Read joined Binance’s security team.
Investors were warned by financial regulators in several countries, including Netherlands, Italy, Poland, Japan, Thailand, Hong Kong, Singapore, South Africa and a number of others, issued warnings to investors about the company’s activities.
In this context, Binance CEO Changpeng Zhao published an open letter outlining the exchange’s plans to ensure regulatory compliance and protect customers.
In August the company introduced mandatory user verification and appointed former U.S. Treasury investigator Greg Monahan to the role of anti-money-laundering officer.
The activity is also being reviewed by the U.S. Commodity Futures Trading Commission, which suspects the platform of insider trading and market manipulation.
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