Crypto exchange Binance has announced the hiring of Amjad Qaqish, a former member of the U.S. Internal Revenue Service’s (IRS) Criminal Investigation unit, as the Director of Global Suspicious Activity Report (SAR) Reporting.
“Mr. Qaqish has over 30 years of service with the IRS, of which over 23 were spent as a Special Agent with the IRS Criminal Investigation agency,” Binance said in a statement.
During his time at the IRS, “he worked on crypto-related cases involving fraud, tax evasion, money laundering and terrorism financing,” the exchange added.
Now, Qaqish will lead the Global SAR team, which monitors suspicious and unusual activity with the aim of preventing bad actors from exploiting the cryptocurrency industry. The team also aims to ensure that user accounts and funds are safe.
“The speediness of how the crypto market grows means the deterrence of bad actors is critical to the long term success of our industry,” Qaqish said. He added that “Binance is a