DUBAI, UAE, Jan. 6, 2023 /PRNewswire/ -- Binance, the global blockchain ecosystem behind the world's largest digital asset exchange, today announced that it has joined the Association of Certified Sanctions Specialists (ACSS), the world's only organization bringing together sanctions compliance professionals.
ACSS, established in 2018, provides high-quality education and benefits to its members. Binance is the first crypto exchange to formally join the association.
Binance will be leveraging the training materials, comprehensive databases, and deep networks within ACSS to further enhance the skills and expertise of its team. All compliance professionals on the sanctions team as well as money laundering reporting, compliance operations, and special investigations leads within Binance will be required to undergo training with ACSS as part of the certification process.
The mandated training sessions will be key to equipping Binance's sanctions team with the latest OFAC guidelines on developing sanctions compliance programs. ACSS will also help to ensure the team keeps up with sanctions edicts and understands the risks of violations across multiple jurisdictions.
"The blockchain industry is still in its early years, and it's our priority to continue upholding the highest level of compliance amid a fast-evolving space," said Chagri Poyraz, Binance's Global Head of Sanctions. "By working closely with the ACSS, we will take our sanctions compliance standards to a level that is recognized by a reputable industry association and provide upskilling opportunities for our compliance team. At the end of the day, we want to continue setting the industry standard for security and compliance alongside other industry players."
ACSS Executive Director Saskia Rietbroek said: "We are proud to have been chosen by Binance, a world leader in blockchain ecosystem and cryptocurrency infrastructure. ACSS, as an organization specializing in providing sanctions training for multinational corporations and financial institutions, will ensure the highest quality of training to the team at Binance in this dynamic sector and help advance compliance in the crypto industry."
Over the past two years, regulatory compliance has been a core focus at Binance. In 2022, Binance's compliance team grew from 500 to 750 people. This is part of the organization's ongoing efforts to strengthen its compliance capabilities. To this end, Binance has secured regulatory licenses, registrations, and approvals in a total of 14 jurisdictions to date including in France, Spain, Bahrain, Dubai, and Australia.
About Binance
Binance is the world's leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com
About the Association of Certified Sanctions Specialists (ACSS)
The Association of Certi?ed Sanctions Specialists (ACSS) is a professional membership body for sanctions professionals worldwide. It was formed to advance sanctions compliance by supporting the professional development of the individuals who lead those e?orts. Financial institutions, international corporations, law firms, consulting companies, government and other trades and businesses depend on the ACSS to assist them with their sanctions compliance needs. "Certified Sanctions Specialist" or CSS is a mark of distinction that shows individuals have had full sanctions compliance training.
Logo - https://mma.prnewswire.com/media/1773650/Binance_Logo_Yellow_4x_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/binance-joins-the-association-of-certified-sanctions-specialists-acss-to-further-compliance-standards-within-the-crypto-industry-301715363.html
