Binance has joined the Association of Certified Sanctions Specialists (ACSS) to improve the skills and expertise of its compliance professionals. Binance revealed in the company press release that it plans to make full use of the training materials, comprehensive databases, and deep networks within ACSS.

All of its compliance professionals on the sanctions team as well as the money laundering reporting, compliance operations, and special investigations leads will undergo training with ACSS as part of the certification process. Binance’s main aim is to familiarise its team with the latest OFAC guidelines on developing sanctions compliance programs. Furthermore, by working with the ACSS, the team will gain a deeper understanding of sanctions edicts and will be able to understand the risks of violations across multiple jurisdictions.

Binance reports that its compliance team has grown from 500 to 750 people in 2022 and that it managed to secure regulatory licenses, registrations, and approvals in 14 jurisdictions at the time of writing, including in France, Dubai, Spain, Bahrain, and Australia. Binance officials expressed their commitment to setting the industry standard for security and compliance alongside other industry players, which is why they have chosen to work with the ACSS. ACSS representatives emphasised their willingness to provide the highest quality of training to the Binance team while helping advance compliance in the crypto industry as a whole.

More information about the Association of Certified Sanctions Specialists The Association of Certified Sanctions Specialists is a professional membership body for sanctions professionals worldwide. The body was formed to advance sanctions compliance by supporting the professional development of the individuals who are involved in these efforts. Financial institutions, international corporations, law firms, consulting companies, government and other trades and businesses rely on the ACSS to assist them with their sanction compliance needs.

The ACSS offers a ‘Certified Sanctions Specialist’ examination, which allows individuals to receive full sanctions compliance training. According to sanctionsassociation. org, the objective of the certification program is to set the standard for the sanctions profession and to make Certified Sanctions Specialists (CSS) widely recognised as trained and credentialed specialists in the sanctions field.

It is a multiple-choice, proctored exam that can be taken in testing centres around the world. The certification exam is universal and does not just focus on one country or industry. It analyses and validates competence and skill across the sanctions spectrum, including due diligence, policy, screening, compliance, and investigations into sanctions evasion.

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