A new training program by Binance will assist law enforcement agencies combat e-crime

With a recent e-crime training program, crypto exchange giant Binance is now aiming to combat cybercriminals with more intensity.

Binance has always served as the big brother of the crypto sector by helping users who have fallen victim to fraud, theft, or hacks regain their money. With an e-crime training program, it is now aiming even higher.

The “Global Law Enforcement Training Program,” developed by Binance to assist law enforcement agencies in preventing financial and electronic crimes using cryptocurrency or digital assets, was officially launched on September 27.

According to Binance, a group of highly qualified individuals, including security specialists and former law enforcement agents who assisted in the takedown of illegal platforms like Silkroad and Hydra, are heading the training program.

The exchange offers one-day training courses which include in-person intensive sessions on blockchain, cryptocurrency, legal issues, and anti-money laundering regulations.

Since last year, the exchange has worked with a variety of law enforcement agencies from countries including Argentina, Brazil, Canada, France, Germany, Israel, the Netherlands, the Philippines, Sweden, South Korea, and the United Kingdom to train its own e-crime and cybercrime investigations team. Recently, Binance tapped the former Kraken chief to lead its compliance team, as TheCoinRise reported.

According to Tigran Gambaryan, Global Head of Intelligence and Investigations at Binance, the Training Program was developed in response to requests from public law enforcement and regulatory authorities interested in understanding and preventing crimes related to digital currencies.

Binance all set to fight severe e-crimes

More than 27,000 law enforcement inquiries have currently been addressed by the Binance Investigations team in an average of three days, “faster than any traditional financial institution,” according to Gambaryan.

From terrorist funding and ransomware attacks to more severe crimes like human trafficking and child pornography, the exchange claimed that its team is capable of tracking and fighting a wide range of e-crimes.

Notably, as TheCoinRise reported, on September 3, exchange founder Changpeng Zhao (CZ) announced via Twitter that Binance’s security team had identified the two suspects in the theft of $265,000 from KyberSwap while on September 26, he revealed that the exchange was working with the United States Department of Justice (DOJ) to identify victims of the Centra Tech fraud, which saw a loss of over 100,000 ETH.