Regulator fines crypto ATM operator Cryptolink as part of crackdown that’s too late for many
Australia’s financial crimes regulator has taken action against a second cryptocurrency ATM operator as evidence grows that the machines are used for scams and money laundering.
Crypto ATMs have become a major laundering risk, according to AUSTRAC, which imposed new restrictions on the sector in July, including transaction limits.
But for 72-year-old Perth pensioner Dorothy Dyall, the regulatory crackdown has come too late.
She lost her $12,500 life savings in April after responding to a fake Microsoft security alert on her computer.
“Suddenly, there was a very loud alarm, like a fire alarm,” she said.
“A man said he was from Microsoft Security and told me someone had hacked my computer and used it to access child pornography websites.
“I was…
