Binance has hired a veteran financial criminal investigation agent to head up suspicious activity reporting as it continues to strengthen its regulatory compliance front.
- Amjad Qaqish, a former criminal investigation special agent at the U.S. Internal Revenue Service (IRS), was named as the largest crypto exchange’s director of global suspicious activity reporting on Friday.
- During his 30 years with the tax authority, Qaqish worked on cases relating to fraud, tax evasion, money laundering and terrorism financing, including those involving crypto.
- His role will involve monitoring suspicious activity to prevent “bad actors misusing the cryptocurrency markets,” Binance said.
- The hire is the latest of a series of appointments by Binance as it tightens up on regulatory compliance while tackling fraud and other criminal activity. The exchange encountered a slew of reprimands from financial watchdogs earlier this year, forcing it to become more proactive regarding compliance.
- Last month, Binance hired Mark McGinness, the former head of international relations at the Dubai Financial Services Authority, as its first chief regulatory liaison officer.
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