Binance, which is being sued by US regulators for a wide range of issues, is pleased have collaborated with Taiwan’s New Taipei District Prosecutors Office on “a workshop focused on combating cybercrime within the virtual assets space.”
Conducted on August 24, the workshop is part of Binance’s continued push “to remain at the forefront of fighting cyber financial crimes globally.”
Over 70 prosecutors and assistant prosecutors “attended the workshop both on-site and virtually – including the Chief Public Prosecutor of New Taipei District Prosecutors Office Yu Li-Chen.”
Experts from Binance’s compliance team “covered a range of topics, including the recent crime trends in the virtual-asset space, the basics of blockchain and digital-asset investigations, as well as case studies of Binance combating financial crimes in partnership with law enforcement agencies and financial intelligence units globally.”
Yu Li-Chen, Chief Public Prosecutor of New Taipei District Prosecutors Office, said:
“As technology rapidly advances, new forms of crime emerge. It is crucial for law enforcement agents to understand the latest crime trends and be equipped with skills to protect citizens’ assets. We are delighted to partner with Binance to provide prosecutors with knowledge and insights in blockchain and virtual assets space and enhance our investigative capabilities.”
Damien Ho, Binance’s Global Partnerships Team, stated:
“User protection is one of Binance’s core values, and public-private collaborations are essential to doing this work properly. That is why we are extremely honored to have the opportunity to collaborate with the New Taipei District Prosecutors Office and share our global experience of assisting in investigations and prosecutions of illicit actors. We hope that this strategic collaboration will help bolster the security of the virtual-asset ecosystem in Taiwan and beyond, as well as drive positive growth for the industry.”
The August workshop represents “the second wave of events jointly organized by Binance and Taiwan law enforcement agencies this summer.”
In June, Binance held similar training sessions “for Taiwan’s Criminal Investigation Bureau in Taipei.”
Through these proactive knowledge-sharing sessions, experts from Binance empower Taiwan’s law enforcement officials “to better navigate the digital-asset landscape and strengthen their capacity to tackle virtual asset-related crime, thus helping to create a safer and more secure environment for users in Taiwan and beyond.”
Jarek Jakubcek, Head of Global Law Enforcement Training at Binance, said:
“I am impressed by the technical skills and dedication that Taiwan’s investigators and prosecutors possess. Within the span of just a few months, we’ve delivered training workshops for two law enforcement agencies in Taiwan, and this is testament to their commitment to keeping the virtual assets space safer and more secure for all users. We are heartened to witness this and are looking forward to doing our part as an industry leader through knowledge-sharing and capacity-building initiatives in Taiwan and beyond. Strengthened cooperation with law enforcement agencies and officers is a top priority here at Binance.”
Launched by Binance in 2022, the Global Law Enforcement Training Program is the industry’s first global initiative “aimed at supporting law enforcement agencies in combating financial and cybercrimes related to virtual assets.”
During the first half of 2023, Binance held “more than 60 in-person and remote training sessions globally.”
As attention to virtual assets continues to rise, the demand for specialized training is also increasing. Binance claims that it “remains steadfast in its efforts to play a crucial role in safeguarding users and driving industry development in the security domain.”
It’s worth noting that Binance is dealing with potentially serious operational challenges such as its failed partnership with Checkout.com and Mastercard. The firm’s revenue may also be declining rapidly, according to an extensive report.