Australia warns crypto ATM providers over money laundering

Crypto ATM providers have received a warning from the Australian Transaction Reports and Analysis Centre that those who don’t fully comply with anti-money laundering rules will face legal action.

According to a Mar. 31 press release statement, AUSTRAC’s cryptocurrency task force has found signs of suspicious transactions and fraud, raising concerns about the growing number of crypto ATMs. Since December, the task force has been working with businesses to check if they are following AML and counter-terrorism financing rules. 

AUSTRAC CEO Brendan Thomas issued a warning, saying that although the agency is assisting companies in improving compliance, those who do not adhere to anti-money laundering and…

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