World’s biggest cryptocurrency exchange Binance hired Amjad Qaqish — a former member of the U.S. Internal Revenue Service’s (IRS) Criminal Investigation unit — to be its director of the Global Suspicious Activity Report Reporting unit.
What Happened: Binance wrote that “Mr. Qaqish has over 30 years of service with the IRS, of which over 23 were spent as a Special Agent with the IRS Criminal Investigation agency,” in a Friday announcement. During his time at the IRS, he worked at “crypto-related cases involving fraud, tax evasion, money laundering and terrorism financing.”
See Also: BINANCE REVIEW
Qaqish will be tasked with helping Binance monitor suspicious and unusual activity to prevent bad actors from laundering money and ensure user accounts and funds are safe. He said that because of how fast crypto is growing it “is critical to the long-term success of our industry” to deter the bad actors.
The report follows Binance recently disabling crypto withdrawals two times during the same day after finding a major backlog of requests.
Image: Courtesy Binance