Binance held a cybersecurity and crypto training seminar for law enforcement officials in Mexico City.
Training focused on emerging technologies
Binance engaged with around 35 investigators from four different agencies, discussing both technical concepts and real-world case studies.
Felipe de Jesús Gallo Gutiérrez, the head of the Criminal Investigation Agency, revealed the importance of understanding new technologies like cryptocurrencies.
“It is essential for us as public servants to stay at the forefront of understanding and handling emerging technologies such as cryptocurrencies. The impact of virtual assets on organized crime and other illicit activities requires an advanced response adapted to these new challenges.”
This strategy aligns well with Binance’s goals, as Rachel Conlan, Binance’s Global Chief Marketing Officer shared in an interview that Latin America is a key focus for the company’s growth.
Last year, Binance launched a crypto transfer service in nine Latin American countries, including Mexico.
Next level compliance
Binance has a history of collaborating with law enforcement agencies. Frida Vargas, the exchnage’s General Manager in Mexico, noted that working alongside law enforcement is a permanent commitment for Binance, and training is an important part of the collaboration.
She added that they want to strengthen efforts to prevent and investigate financial crimes.
Since 2023, Binance has reported a 33% increase in its recovery rate for stolen funds.
The company claims to have responded to over 63,000 requests from law enforcement globally in 2024 and participated in 120 training seminars last year.
Jarek Jakubcek, Binance’s Head of Training for Authorities and Government Agencies, pointed out that these cooperative efforts benefit both parties. He explained that preventing crimes and recovering stolen assets is important for Binance across various jurisdictions.
“Collaboration between the public and private sectors is essential to prevent and combat criminal activities. Binance offers a range of tools to support this work in Mexico and globally.”
Who are the baddies?
Mexican authorities are in positive sentiment to learn more about blockchain technology and cryptocurrencies.
Also, worth to mention that despite these positive initiatives, Binance also faced scrutiny regarding its compliance with anti-money laundering regulations.
Two years ago, the U.S. Drug Enforcement Administration accused the exchange of being used by criminal organizations for money laundering activities.
In 2023, former CEO Changpeng Zhao pleaded guilty to charges related to anti-money laundering violations, resulting in a $50 million penalty and a four-month prison sentence.
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