AUSTRAC Order Independent AML/CTF Audit for Binance Australia

AUSTRAC don tell Binance Australia make dem do audit and make dem find independent auditor within 28 days after dem see say their AML/CTF control get serious wahala. The watchdog talk say staff dey comot often, senior people no too dey monitor well and local governance no too correct. This one na for Investbybit Pty Ltd wey be Binance Australian branch to make sure dem comply correct, join with risk wey dem get. CEO Brendan Thomas talk say all global crypto operators shuld make their anti-money laundering and counter-terrorism financing checks fit the local gbege dem. This Binance Australia audit follow Chainalysis report wey talk say US$2.17 billion go missing by mid-2025. E still dey happen as ASIC don remove over 14,000 scam sites and tighten up rules for digital currency ATM, wey dem put cash withdrawal cap for AUD5,000 with beta due diligence. Crypto traders make una dey watch how Binance Australia audit go go and how dem go correct the matter. Because compliance cost go dey rise and regulators go dey watch well, e fit affect liquidity, transaction monitoring and market operation for the exchange. Strong AML/CTF compliance na the key to avoid penalty or licence cancellation.