Binance Bolsters Security Measures By Tightening KYC and Sanctions Screening

Binance Bolsters Security Measures By Tightening KYC and Sanctions Screening
HeadlinesNewsBinance Bolsters Security Measures By Tightening KYC and Sanctions Screening

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Binance Bolsters Security Measures By Tightening KYC and Sanctions Screening

Bitcoinist.coma month ago
Published on May 29, 2022 11:00 GMT+00:00edited on May 30, 2022 12:14 GMT+00:00

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To ensure the sanction compliance and save the platform from the potential risk posed by illicit transacting of crypto, the well-established cryptocurrency exchange Binance has partnered with two firms, including analytical data firm Kharon and cloud-native screening provider Neterium. 

As per the announcement made on Wednesday, the partnership aims to bolster the exchange’s Know-your-customer (KYC) protocols and improve sanction screening. In this effort to detect illegal transfers, Neterium will work to transfer Kharon’s data into the Binance’s screening environment.

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This move will further promote the deployment of new data solutions to enhance the trading platforms’ capabilities to …