Australian regulator warns cripto ATM operators from rising fraud

Safety

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1. April 2025

Australian reports on transactions and the analysis center warned cryptocurnent ATM operators of money laundering and false transactions. The regulator especially believes that some operators may not have enough tools for washing money and against terrorism, according to the press release.

“Vassforce is busy to deal with companies to understand the risks in their sector and assess their respect of the law,” said Brendan Thomas, General Manager of Australia. “It has been identified by worrying trends and indicators of suspicious activity, including transactions that can be related to fraud or fraud”.

Currently Australia has about 1,600 ATMs crypto in the country.

“We want to ensure that CRPTO ATM provides have a robust practice to reduce the risk that their machines can be used to wash dirty money,” said Thomas in release. “We will continue to work with the industry to increase standards, but we will also take actions against the operators that are not respected.”