Binance has hired Coinfirm to perform its customer screening procedures, as well as prevent money-laundering. The partnership aims to satisfy the requirements of the Financial Action Task Force (FATF), taking force in the summer of 2020.
Coinfirm will assist Binance with analytics to prevent money-laundering while the transactions are still denominated in digital assets. Binance is often the receiving end of coins and tokens acquired through exploits, hacking, or scams, to be liquidated. Improved analytics may help sift out those transactions
“We’re excited to be working with an industry leader like Binance to boost its AML and risk analysis capabilities with our proprietary technology and widest blockchain coverage,” said Pawel Kuskowski, C...