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Manila, Philippines, September 16, 2022 /PRNewswire/ — Binance, the world’s largest blockchain ecosystem, recently partnered with the Department of Information and Communications Technology’s (DICT) Cybercrime Investigation and Coordination Center (CICC), to share knowledge and experience in preventing cybercrime using blockchain forensics with various law enforcement agencies.

The seminar was designed by Binance and led by the firm’s Asia-Pacific Intelligence and Investigations Manager, Jarek Jacubcek. During the 2-day seminar, Jacubcek covered the technical aspects of interactions with and between exchanges, tracking cryptocurrencies, common cybercrime activities, investigative techniques, prosecuting financial crimes, and developing forensic reports using open source intelligence tools.

Jarek Jacubcek, a former member of the Garda, Irish National Police and Europol’s Cybercrime Center, joined the Binance team in May and is tasked with stopping malicious activity in the crypto ecosystem with assistance from local law enforcement agencies.

The seminar was also honored by the presence of CICC Usec. Alexander K. Ramosdeputy director of the CICC Marie Rose Magsaysay, and Col. Armel Gongona, deputy director of administration of the anti-cybercrime unit of the Philippine National Police (PNP).

“We are here to increase the technical capacity of our law enforcement and to help the justice system appreciate cryptocurrency and how it is used as digital evidence in the justice system. We do this because we have need the public to be reassured that our law enforcement system is We welcome cryptocurrency transactions so the public can use it for their economic activities,” said Mary Rose Magsaysay, Executive Director Assistant, CICC.

Binance on cybersecurity

Binance has a strict KYC policy that enforces a zero-tolerance approach to duplicate registrations, anonymous identities, and obscure money sources. Binance’s KYC processes comply with AML/CFT rules in over 200 jurisdictions.

Binance does not allow users to trade on its platform without passing KYC checks which include country of residence and personal identification information. Jacubcek notes “Our primary focus over the past 18 months has been to build a globally recognized security and compliance team of over 500 people from around the world.”

At the same time, Jacubcek notes that while exchanges like Binance are doing their part to keep their platform secure, users also need to take liability and cyber-hygiene seriously.

”Cryptocurrency empowers users. All of a sudden, people become owners of the funds. They can send funds from one person to another. But with power comes responsibility. Thus, people should be very careful with their sensitive data and cryptocurrencies when performing these transactions. With more education, consumers will appreciate the importance of personal data hygiene and cybersecurity best practices,” says Jacubcek.

Besides the recent training session held in Quezon City, Binance also held workshops for law enforcement and banking professionals in Germany (BKA, LKA, prosecutors), Canada (mixed law enforcement audience), Italy (Finance Guard), Paraguay (prosecutors) and Brazil (Brazilian Federal Police and Prosecutors) to help facilitate the investigation of cybercrimes around the world.

To protect their users, Binance has one of the largest insurance funds in the world called SAFU (Safe Asset Fund for Users) with holdings of $1 billion[1] transparently held in two separate portfolios that can be audited by the public at any time. The funds can be used to pay users if their accounts are subject to hacks.

[1] Based on January 2022 cryptocurrency prices


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