Australia’s financial crimes watchdog has placed crypto ATM operators “on notice,” warning many such machines may be helping criminals launder money or defraud victims.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said its crypto taskforce, formed last December, uncovered “worrying trends and indicators of suspicious activity” tied to crypto ATMs, including links to scams and fraud, in a statement released Monday.
Crypto ATMs—also known as kiosks—are physical machines that allow users to buy or sell cryptos like Bitcoin using cash or cards, often without the same identity checks used in traditional finance.
“We want to ensure crypto ATM providers have robust practices to minimise the risk that their machines…
Apr 11 2025
