In brief
- AUSTRAC revoked a crypto ATM provider’s license and imposed $5,000 transaction caps after finding widespread fraud, especially targeting users aged 60–70.
- New data shows over-50s account for 72% of ATM transaction value, prompting tighter rules and educational campaigns near machines.
- The regulator said it will continue monitoring the sector and may introduce further measures if scam-related harm persists.
Elderly Australians are being scammed out of millions at crypto ATMs, and AUSTRAC is shutting them down.
AUSTRAC, or the Australian Transaction Reports and Analysis Centre, said it has refused to renew the registration of crypto ATM operator Harro’s Empires and imposed new conditions on others, according to a statement…
