Overview

• Australia’s financial intelligence agency cited serious concerns with the exchange’s anti‑money‑laundering and counter‑terrorism financing controls.
• AUSTRAC says a recent independent review was too limited for the platform’s size, services and risk profile.
• The regulator also flagged high staff turnover, insufficient local resourcing and weak senior management oversight as governance gaps.
• Binance Australia, which operates locally as Investbybit, has 28 days to nominate external auditors for AUSTRAC’s consideration.
• AUSTRAC chief Brendan Thomas said global platforms must meet local standards, while Binance’s Matt Poblocki pledged continued cooperation and stronger compliance as oversight tightens across the sector.