Australia AUSTRAC Warns Crypto ATM Providers on Missing Anti-Money Laundering Checks

AUSTRAC Places Crypto ATM Providers “On Notice”

Australia's ALM watchdog AUSTRAC has highlighted “worrying trends” of suspicious activities and transactions that are crypto ATMs.

Australia AUSTRAC Warns Crypto ATM Providers on Missing Anti-Money Laundering Checks

AUSTRAC, Australia's anti-money laundering watchdog, put crypto ATM providers on notice for not complying with required standards."AUSTRAC’s cryptocurrency taskforce has found that some crypto ATM providers may not have the right anti-money laundering and counter-terrorism (AML/CTF) checks in place," the financial intelligence agency said in a release on Monday.Crypto ATM providers need to register with the regulator, monitor transactions and co…

According to an Australian regulator, these devices would be used by bad actors to legitimize capital, as cashiers do not comply with certain provisions to prevent violations of anti-money laundering laws. *** Australian authorities point to suspicious activities in the use of crypto ATMs. The regulator warns about potential violations of anti-laundering laws. A special task force has identified links to scams and frauds.

AUSTRAC Cracks Down on Non-Compliant Crypto ATM Operators in Australia

AUSTRAC warns crypto ATM operators to comply with anti-money laundering and terrorism financing rules. Australia’s crypto ATM numbers surge 81% raising concerns over potential money laundering risks. Non-compliant crypto ATM operators face heavy penalties as AUSTRAC steps up enforcement efforts. The Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued a warning to cryptocurrency automated teller machine (ATM) operators. The fi…

Australia Cracks Down on Crypto ATMs, Citing Inadequate AML and CTF Measures

Terence Zimwara 2025-04-01 05:30:00 news.bitcoin.com AUSTRAC, Australia’s financial services watchdog, has raised concerns that some crypto ATM providers may lack adequate anti-money laundering and counter-terrorism measures. Task Force Identifies Worrying Trends The Australian financial services industry watchdog, AUSTRAC, has claimed that some crypto ATM providers “may not have the right… Source

AUSTRAC Puts Crypto ATM Providers on Notice

AUSTRAC is warning some crypto ATM providers may not have the right AML and CTF checks in place, heightening risk exposure to users. AUSTRAC’s cryptocurrency taskforce has found that some crypto ATM providers may not have the right anti-money laundering (AML) and counter-terrorism (CTF) checks in place. In a notice on Monday (31 March), AUSTRAC said the taskforce […] To continue reading... Sign in Password * …