AUSTRAC orders Binance Australia to nominate external auditors within 28 days
AUSTRAC ordered Binance’s Australian arm, Investbybit Pty Ltd, to nominate external auditors within 28 days from 22 August, citing concerns about its anti-money laundering and counter-terrorism financing controls. The watchdog cited the limited scope of a recent independent review, staff turnover, local resourcing and senior-management oversight; it will consider and select the auditors.
The order requires Binance Australia to submit auditors for AUSTRAC’s consideration amid concerns about its local compliance controls.