AUSTRAC Probes Binance Australia With Audit on Anti-Money Laundering Practices
AUSTRAC has ordered Binance Australia to appoint an independent auditor within 28 days after uncovering serious weaknesses in its anti-money laundering and counter-terrorism financing controls.
The regulator flagged inadequate reviews, high staff turnover, and poor local oversight as key governance failures, warning that large global exchanges must adapt to local risks. This directive adds to Binance Australia’s mounting compliance troubles, including a misclassification scandal, license cancellation, and compensation payouts.
The move follows broader regulatory crackdowns in Australia, with Kraken fined $5.1 million and Bitget warned for offering unlicensed futures, underscoring growing pressure on crypto platforms to meet strict local standards.
Clever Robot News Desk 26th August 2025
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