Binance faces stiff audit order from Australian regulators
AUSTRAC, Australia’s financial crimes agency, has ordered Binance Australia to hire an external auditor. This move aims to improve the platform’s compliance measures.
The main issue? Binance’s existing compliance checks don’t go far enough. AUSTRAC believes these reviews aren’t broad enough given Binance’s scale and the risks it manages.
The regulator spotted problems like high staff churn and weak local oversight. AUSTRAC worries these lapses could let bad actors exploit the system for financial crime.
- Limited review scope相比于公司的规模和面临的风险来说不足
- 高员工流动率影响了系统的稳定性。
- 本地高级管理监督不足导致控制措施不够严格。
AUSTRAC’s CEO, Brendan Thomas, stressed the need for global firms to tailor thier systems to Australia’s rules. “Even big players need to understand our specific risks,” he said.
Binance Australia has 28 days to pick suitable auditors. These auditors will evaluate customer checks, risk assessments, and transaction monitoring practices.
This crackdown reflects Australia’s growing emphasis on regulating crypto.Earlier this year, AUSTRAC reviewed over 50 firms and penalized 13 for non-compliance.
To safeguard investors and maintain market trust, the government also crafted rules for stablecoins and crypto wallets. All crypto platforms operating in Australia must strictly adhere to local regulations to steer clear of fines and operational disruptions.
