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Australians are losing millions of dollars each year to scams linked to cryptocurrency ATMs, with $3 million lost in 12 months.
Financial crime and money-laundering regulator AUSTRAC has announced new controls on crypto ATM operators, including $5,000 transaction limits.
The rapid growth of crypto ATMs has outpaced regulation, with the machines increasingly used for illicit purposes, AUSTRAC says.
In short:
Australians are losing millions of dollars each year to scams linked to cryptocurrency ATMs, with $3 million lost in 12 months.
Financial crime and money-laundering regulator AUSTRAC has announced new controls on crypto ATM operators, including $5,000 transaction limits.
The rapid growth of crypto ATMs has outpaced regulation, with the machines increasingly used for illicit purposes, AUSTRAC says.
In short:
Australians are losing millions of dollars each year to scams linked to cryptocurrency ATMs, with $3 million lost in 12 months.
Financial crime and money-laundering regulator AUSTRAC has announced new controls on crypto ATM operators, including $5,000 transaction limits.
The rapid growth of crypto ATMs has outpaced regulation, with the machines increasingly used for illicit purposes, AUSTRAC says.