Binance exchange is partnering with risk management platform IdentityMind to improve Binance's data protection and compliance, the companies announced in a press release. IdentityMind enables worldwide compliance with know-your-customer and anti-money laundering regulations. It offers a SaaS platform, which provides tools to counter transaction fraud, improve KYC/AML, and sanctions screening.
Samuel Lim, Chief Compliance Officer of Binance, believes, “The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.”