Binance Canada Partners with MinervaAI on AML

Binance Canada, a blockchain and cryptocurrency infrastructure provider, has announced it would partner with MinervaAI, for the detection and investigation of financial crimes.

Following the partnership, Binance Canada will utilise Minerva's artificial intelligence tools, vast sanctions and other risk screening capabilities to add to their know your customer (KYC) and anti-money laundering (AML) capabilities to continue in developing a comprehensive security, anti-fraud and AML compliance program in Canada.

MinervaAI is looking forward to the partnership with Binance Canada in the prospect of making crypto safer and more accessible for Binance's customers, while also making AI-driven AML compliance efficient, effective, and affordable for their own customers.

As representatives say, Binance Canada has a robust compliance program that incorporates AML efforts and global sanctions principles, as well as tools to pre-emptively detect suspicious accounts and fraudulent activity. These tools meet the security standards of the tools that are commonly used in traditional financial institutions, and the company will utilise Minerva's technology to enhance the strength of their KYC process.

The company's compliance, KYC, and know your business programs around the world have enabled Binance Canada's parent company to secure approvals and registrations in France, Italy, and Spain.

(Source: The Paypers)