Australia's anti-money laundering watchdog, AUSTRAC, has issued a warning to crypto ATM providers for potentially lacking the necessary anti-money laundering and counter-terrorism (AML/CTF) checks. A task force identified that some providers may not be fully compliant with the AML/CTF Act 2006, necessitating registration with AUSTRAC, transaction monitoring, and strict know-your-customer protocols. Australia, which leads the Asia Pacific region in the number of crypto ATMs—approximately 1,600, a significant increase from just 23 in 2019—has seen a rise in suspicious activities linked to these machines. The agency's CEO, Brendan Thomas, highlighted troubling trends pointing to transactions associated with scams or fraudulent behavior, underscoring the need for regulatory compliance as authorities mimic stringent measures seen in the U.K., where only licensed crypto ATMs may operate.

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