In an attempt to better streamline its compliance capabilities, crypto exchange giant Binance has hired former Europol Dark Web specialist Nils Andersen Röed for its investigations and audit team. 

In an official statement made by Binance, it said that Röed will focus on conducting and leading internal and external investigations to identify criminal activities inside the crypto exchange platform. 

In other words, Röed would manage the critical task of protecting Binance users’ funds and assisting law enforcement agencies in crypto crime-related investigations. 

A safer place

“My goal is to make the cryptocurrency industry a safer place. An international collaboration between the industry and law enforcement agencies is key, criminals don’t care about borders,”  Röed said. 

He also said that collaboration between the public and the private sector would provide immense help to protect the crypto industry from criminals hiding in cyberspace. 

Röed is certainly fit for the critical job as he has already served as the Project Leader of the Dark Web Unit of the Dutch National Police. He also had experience in handling high-profile cases with law enforcement agencies, an experience that would be very beneficial in his new role at Binance. 

Binance beefing up

With the mounting legal headaches that it is facing all over the world (which are related to compliance issues), Binance has started to make improvements to better streamline its compliance with regulators. 

The crypto exchange has recently hired Aron Akbiyikian, a former detective in forensic analysis of digital media, to its Audit and Investigation team. 

Last August, Binance appointed Richard Teng as chief executive officer for its Singapore’s operation to strengthen its compliance capabilities in the country. 

Binance is expected to hire more experts in the field of security to better align itself with the policies of various regulators and law enforcement agencies around the world. 

Image courtesy of Cointelegraph News/YouTube

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