Binance announced the official launch of its “Global Law Enforcement Training Program,” to collaborate with agencies on a global scale.
For several years now, Binance has played an important role as the big brother of the crypto industry by assisting in the recovery of funds from users who have been victims of theft, scams, or hacks. But now, they are aiming higher with an e-crime training program.
On September 27, Binance announced the official launch of its “Global Law Enforcement Training Program,” created to help law enforcement agencies combat financial and electronic crimes that involved crypto or digital assets.
Per Binance’s statements, the training program is led by a team of highly skilled professionals, including security experts and former law enforcement officers who helped take down criminal platforms such as Silkroad and Hydra.
Binance offers one-day training programs that include intensive in-person workshops on blockchain, cryptocurrencies, legal issues, and anti-money laundering policies.
Fighting Crime In All Countries
Since last year Binance has been training its own e-crime and cybercrime investigations team alongside different law enforcement officials from Argentina, Brazil, Canada, France, Germany, Israel, Netherlands, Philippines, Sweden, South Korea, UK, among others.
Tigran Gambaryan, Global Head of Intelligence and Investigations at Binance, said they created the Training Program due to demand from regulators and public law enforcement agencies interested in understanding and combating cryptocurrency-related crimes.
Currently, the Binance Investigations team has responded to more than 27,000 law enforcement requests in an average time of 3 days, “faster than any traditional financial institution,” according to Gambaryan.
Binance Team Has Already Scored Some Victories Against Criminals
Binance said its team is able to track and counter many types of e-crime, from financing terrorism and ransomware hacks to more violent crimes such as human trafficking and child pornography.
“Protecting users is our number one priority at Binance. We work hand-in-hand with law enforcement to track and trace suspected accounts and fraudulent activities, contributing to the fight against terrorism financing, ransomware, human trafficking, child pornography, and financial crimes,”
Changpeng Zhao (CZ), CEO of Binance, said on his Twitter account that the program is a novelty in the crypto industry and will serve to detect and prosecute all those criminals who try to take advantage of the vulnerabilities found in digital assets.
On September 03, CZ revealed via Twitter that Binance’s security team had identified the two suspects in the theft of $265,000 from KyberSwap, a decentralized exchange protocol (DEX), and had communicated with the platform and law enforcement to take appropriate action.