Binance is the first organization from the blockchain and cryptocurrency industry to formally join the alliance, according to the statement shared with Finbold. The NCFTA was established in 2002 to enable the responsible sharing of information and subject matter expertise with partners from private sector industries, law enforcement, and academia. Its goal is to develop and share threat intelligence as part of the international effort to combat and defeat cybercrime. NCFTA’s initiatives have helped prevent over $2 billion in potential losses and launch thousands of criminal and civil investigations, which have led to over a thousand arrests.
Binance assists law enforcement agencies worldwide
To date, Binance says it has built a solid dedicated team to tackle blockchain and cryptocurrency fraud. Its Binance Investigations Group is actively assisting law enforcement agencies worldwide. To date, Binance has cooperated with hundreds of criminal investigations, which have led to high-profile arrests, including a cybercriminal group laundering $500M in ransomware proceeds. According to Vice President of Global Intelligence and Investigations at Binance, the platform aims to be the leading contributor in the fight against cybercrime, ransomware, and terrorism financing.
