Day: March 6, 2023

Binance Launches Joint Anti-Scam Campaign

Luisa Crawford

 Binance, one of the world’s largest cryptocurrency exchanges, has launched a new campaign aimed at preventing scams in cooperation with local law enforcement agencies. The initiative, called the “Joint Anti-Scam Campaign,” was first rolled out in Hong Kong and aims to help potential victims of scams avoid falling prey to fraudulent activity. As part of the campaign, Binance collaborated with the Hong Kong Police Force’s Cyber Security and Technology Crime Bureau to create an “alert and crime prevention message” for Hong Kong residents. When users attempted to make withdrawals, they…

Pakistan banks agree on blockchain-based KYC system development

Arijit Sarkar

The Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on developing a blockchain-based Know Your Customer (KYC) platform.  On March 2, the PBA signed the project contract to develop Pakistan’s first blockchain-based national eKYC banking platform, as reported by the Daily Times. The move aims to strengthen Anti-Money Laundering capabilities while countering terror financing — an initiative led by the State Bank of Pakistan (SBP). The member banks include international establishments such as the Industrial and Commercial Bank of China, Citibank and Deutsche Bank.…