Australian regulator warns of money laundering and fraud risks at cryptocurrency ATMs
according to Decrypt, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued a warning to cryptocurrency ATM operators, stating that these devices may be used for money laundering and fraudulent activities. AUSTRAC CEO Brendan Thomas stated the need for cryptocurrency ATM operators to establish robust risk prevention mechanisms.
According to Coin ATM Radar data, Australia currently has 1,648 cryptocurrency ATMs, the highest in the Asia-Pacific region, with 348 in Sydney alone, a significant increase from 23 in 2019.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Stocks and Assets See Steep Losses in Q1
Cryptocurrency Market Faces Tough Q1 2025: Potential Recovery in Q2
AAVE Whale Moves $5M to FalconX After Huge Gains
A whale with $12M in AAVE profits just deposited $5M worth to FalconX, continuing strategic moves after months of inactivity.$12M in Profits and Still Holding StrongWhat This Means for AAVE and FalconX
Trending news
MoreCrypto prices
More
