Binance Faces Scrutiny in Australia as AML Audit Ordered

Crypto exchange Binance finds itself under intense pressure from Australian regulators. The country’s financial watchdog, AUSTRAC, has ordered the exchange to conduct an independent audit of its anti-money laundering (AML) and counter-terrorism financing (CTF) systems following concerns about weak controls. This marks another blow for Binance, which recently faced challenges in Australia and across the globe as global regulatory scrutiny intensifies.