Binance joins STOP THE TRAFFIK in anti-human trafficking effort

Binance has partnered with nonprofit STOP THE TRAFFIK to bolster its ability to identify and investigate cryptocurrency activity linked to human trafficking and child exploitation.The crypto exchange said Thursday that it will receive specialized intelligence, training and insights from the UK group’s Centre for Intelligence-Led Prevention, to help identify emerging criminal typologies and strengthen investigations into illicit activity linked to human trafficking. The collaboration will also include intelligence sharing and staff training aimed at improving the exchange’s compliance and financial crime detection capabilities.The partnership is Binance’s latest effort to strengthen its compliance operations amid scrutiny of its sanctions controls. In May, The Wall Street Journal reported that Iran-linked entities moved hundreds of millions of dollars through Binance despite the exchange’s post-settlement compliance overhaul.Binance denied the allegations, saying the report relied on outdated information and that it complies with applicable sanctions laws.The 2022 Global Estimates of Modern Slavery estimated that 49.6 million people were living in modern slavery in 2021, while The N...