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 Binance’s director of global suspicious activity reporting 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 as the largest crypto exchange tightens up on regulatory compliance while tackling fraud and other criminal activity.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.