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Binance Taps Executive as APAC Head to Drive Compliance

Binance appoints compliance veteran SB Seker to lead its APAC operations and strengthen regulatory engagement, following AUSTRAC’s call for an independent audit of Binance Australia over AML/CTF concerns.

Summary

Binance appointed SB Seker, former SVP at Crypto.com, as Head of Asia-Pacific. This follows AUSTRAC’s directive for Binance Australia to undergo an independent audit regarding AML/CTF concerns. Seker, with over 20 years of experience in fintech and compliance, will oversee regional operations and strengthen regulatory ties in APAC.

Terms & Concepts
  • AUSTRAC: Australia’s financial intelligence and AML/CTF regulator that supervises digital currency exchanges and can mandate audits or enforcement actions.
  • AML/CTF: Anti-money laundering and counter-terrorism financing; compliance controls aimed at detecting and preventing illicit financial activity.
  • APAC: Asia-Pacific; a regional designation covering Asian and Pacific markets used for corporate operations and strategy.