The Australian unit of the largest crypto -story world of the world Binance received from the local authorities the requirement to appoint an external auditor. The reason was the identified problems with the procedures for controlling money laundering and financing terrorism, Australia financial intelligence said.

According to financial intelligence, the disclosure of information about Binance does not have sufficient depth and “limited in coverage of its business offers and potential risks.”

“This is a global company operating on a cross -border scale at high risk conditions. Monitoring the capabilities and risks should correspond to the size of the business and its presence in the market. We expect from Binance customer identification, comprehensive verification and effective transaction monitoring, ”Austrac said.

Austrac representatives said that Binance has high staff turnover and weak control of the criminal use of digital assets. Binance Australia has 28 days to independently find independent external auditors and submit them to the Austrac statement.

This is not the first time that the Australian division of Binance is under the attention of local authorities. In 2023, the Australian Securities and Investment Commission (ASIC) announced searches in Binance Australia offices as part of an investigation of suspicious operations on the cryptocurrency exchange.