Binance and CipherTrace will improve AML measures

The association of both companies seeks to gain greater confidence from users, regulators and financial institutions regarding anti-money laundering actions

An association between the exchange Binance company and CipherTrace will seek to improve anti-money laundering (AML) procedures,

This was indicated by the exchange through its official blog, where it added that the main objective of the company is to reinforce compliance with the measures required of the companies.

Binance’s chief compliance officer Samuel Lim said that choosing CipherTrade as a supplier “will increase our expansion and help us gain greater trust from users, regulators and financial institutions“.

He added that the “partnership will boost our AML compliance program and help us expand to new markets in the best way.”

The CEO of the company, Dave Jevans, said: “Being one of the most important cryptocurrency exchange houses in the world, Binance is at the forefront of compliance with the industry’s AML programs”.

K. Tovar

Source: Binance

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