Binance announced that it held a security training session for National Bank of Georgia employees on October 7th. The session was a three-hour gathering focused on fighting cybercrime and financial crime. More than 30 officers attended the training.
Binance announced that the Binance Georgia Workshop was the latest held as part of Binance’s global law enforcement training program. The program aims to strengthen the company’s cooperation with local and international authorities to combat financial crime facilitated by digital assets.
According to Tigran Gambaryan’s statement,
“Binance has the most robust compliance program in the fintech industry, including anti-money laundering (AML) and global sanctions principles, as well as our ability to proactively identify suspicious accounts and fraudulent activity.
“We thank Georgia’s financial regulators and law enforcement agencies for their cooperation and dedication to addressing challenges in this emerging and fast-growing industry.”
Gambaryan spoke at the event and presented a report on research into digital assets. He shared with staff observations and insights he gained throughout his law enforcement career.
More Sessions In Other Countries For Law Enforcement Training Team
Binance’s law enforcement team has conducted such workshops worldwide. This includes the following countries: France, Germany, Italy, the UK, Norway, Canada, Brazil, Paraguay, and Israel.
The team contributes to global events organized by Interpol, Europol, and Eurojust. According to Binance, workshops similar to Binance Georgia will be held in several other regions and countries over the coming months.
This is Mr. Olga Goncharova’s gratitude statement. He is the Director of Government Relations at Binance,
“We would like to thank Mr. Archil Mestvirishvili, Member of the Board and Vice-Governor of the National Bank of Georgia, for an open dialogue and willingness to contribute to the development of cryptocurrency regulation in Georgia.”
Binance is open to dialogue with regulators around the world. We hope that our experience shared at the conference will be helpful to the Georgian national regulators, and we will continue to develop new and progressive regulated cryptocurrencies in the country. We will see the currency market soon.
Obligation To Practical Compliance
World-class practitioners lead training programs from the Binance Investigations team. The Binance Investigations team employs security experts and former law enforcement officers, including analysts and agents who have helped take down some of the world’s largest criminal platforms, such as Silkroad and Hydra.
A standard one-day training program includes face-to-face workshops on primary blockchain and cryptocurrency concepts. It involves insight into the evolving legal and regulatory environment in which they operate.
It details Binance’s anti-money laundering (AML) policy and the investigative methods the company has developed to detect and prevent criminal activity.
Due to a robust compliance and AML program, Binance recently received approval and registration in countries such as France, Italy, and Spain, making it one of the few crypto companies in the G7 countries to achieve this.
The Binance Investigations team has responded to over 27,000 law enforcement inquiries in an average of 3 days since November 2021.
This is faster than any traditional financial institution. Binance is known to law enforcement agencies for its rapid response system unmatched by conventional financial institutions.