• Binance, one of the leading cryptocurrency exchanges, has joined the Association of Certified Sanctions Specialists (ACSS) in order to meet compliance standards and secure its sanctions team.
• The ACSS will provide training to Binance’s sanctions team on the latest OFAC guidelines on developing sanctions compliance programs.
• In addition, the ACSS will help secure the team to keep abreast with sanctions commands and educate them on the risks of violations across multiple jurisdictions.
Binance, one of the leading cryptocurrency exchanges, has recently joined forces with the Association of Certified Sanctions Specialists (ACSS) to ensure that the firm meets compliance standards and secure its sanctions team. The ACSS is an organization that provides sanctions training for multinational corporations and financial institutions.
In order to become certified and ensure that their sanctions team is up to par, Binance’s team will undergo a training process with ACSS. This process is mandated and will provide the team with the necessary educational resources and benefits in order to understand and implement effective money laundering reporting, compliance operations, and special investigations.
The training program provided by ACSS will include the latest OFAC guidelines on developing sanctions compliance programs. They will also help secure the team to keep abreast with sanctions commands and educate them on the risks of violations across multiple jurisdictions. This is especially important as the crypto industry is changing and evolving constantly.
Chagri Poyraz, Binance’s Global Head of Sanctions 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 another milestone for Binance, as they continue to ensure that their compliance standards are up to par with the constantly changing regulations in the crypto industry. The partnership and the training program will help them remain compliant and secure, and continue to provide a safe and secure environment for their customers.