Binance Aus ramping up measures to protect vulnerable users, says CEO

[Bitgarden@29]

Binance Australia is tightening up its onboarding process for new users as part of a push to protect users it has flagged as most vulnerable to financial crypto crime.

The new measures were mentioned in Binance Australia’s June quarter Economic, Social, and Governance (ESG) report on Monday, which noted that the exchange was working on a “stringent and user-focused onboarding experience” aimed at groups with a higher occurrence of financial crime.

Speaking with Cointelegraph, Leigh Travers, CEO of Binance Aus, and Zachary Lu from the exchange’s Financial Crime, Risk and Compliance unit, noted the company has been actively working on ways to protect “vulnerable users,” which starts from the onboarding process.more