Binance Hosts Cybersecurity Training for Mexican Law Enforcement Amid Latin America Expansion Efforts

Binance recently held a cybersecurity and crypto training seminar for law enforcement officials in Mexico City. This event gathered around 35 investigators from four different agencies.

Felipe de Jesús Gallo Gutiérrez, the head of the Criminal Investigation Agency, emphasized the need for public servants to stay updated on emerging technologies like cryptocurrencies. He said, “It’s essential for us to be at the forefront of understanding and handling these technologies. The impact of virtual assets on organized crime requires an advanced response.”

This initiative aligns with Binance’s strategy to expand in Latin America. In an exclusive interview, Rachel Conlan, the Global Chief Marketing Officer, highlighted that Latin America is a key area for growth. Last year, Binance launched a crypto transfer service in nine Latin American countries, including Mexico.

Binance has a strong history of working with law enforcement. Frida Vargas, Binance’s General Manager in Mexico, stated, “Working alongside law enforcement is a permanent commitment for us. Training is crucial to our collaboration. We want to strengthen efforts in preventing and investigating financial crimes.”

Since 2023, Binance has reported a 33% increase in its recovery rate for stolen funds. In 2024 alone, they responded to over 63,000 requests from law enforcement worldwide and participated in 120 training seminars last year.

Jarek Jakubcek, Binance’s Head of Training for Authorities, noted that these cooperative efforts benefit everyone involved. He explained, “Collaboration between the public and private sectors is essential to combat criminal activities. Binance offers various tools to support this work in Mexico and globally. Mexican authorities have shown great interest in learning more about blockchain technology and cryptocurrencies.”

Despite these efforts, Binance has faced challenges regarding compliance with anti-money laundering regulations. Two years ago, the U.S. Drug Enforcement Administration (DEA) accused the exchange of facilitating money laundering for criminal organizations. Additionally, in 2023, former CEO Changpeng Zhao pleaded guilty to anti-money laundering violations, resulting in a $50 million penalty and a four-month prison sentence.

However, by 2024, Binance aims to take a more proactive approach to compliance.