Binance Hires Former IRS Special Agent to Head Suspicious Activity Reporting

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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