AUSTRAC Requires Binance Australia to Undergo Independent Audit for AML Compliance

Australia’s financial intelligence agency, AUSTRAC, has ordered Binance Australia, the local arm of the world’s largest cryptocurrency exchange, to undergo an independent audit. This action stems from concerns about anti-money laundering (AML) and counter-terrorism financing (CTF) controls at the platform. The directive was announced on August 22, 2025. AUSTRAC noted that Binance’s Australian entity has failed to demonstrate sufficient compliance with the country’s financial crime safeguards despite its global prominence.