On August 22, 2025, Australia’s financial crime authority, AUSTRAC, ordered an audit of Binance Australia after identifying serious concerns with the crypto exchange’s anti-money laundering and counter terrorism financing (AML/CTF) controls. AUSTRAC indicated that the concerns were prompted by the company’s “latest independent review which was limited in scope relative to its size, business offerings and risks” as well as the company’s high staff turnover, lack of local resources, and senior management oversight.
In response to these findings, Binance Australia was directed by the regulator to appoint an external auditor. The company has 28 days from the date of notification to nominate external auditors for AUSTRAC’s consideration and selection.