The cryptocurrency taskforce established by the Australian Transaction Reports and Analysis Centre (AUSTRAC) has found that some crypto ATM providers may not have the right anti-money laundering and counter-terrorism (AML/CTF) checks in place.
In December, CEO Brendan Thomas set up an internal taskforce of experts from AUSTRAC’s regulatory, enforcement and intelligence areas. The taskforce’s focus is on addressing money laundering and terrorism financing risks linked to crypto ATMs, also called ‘crypto kiosks’.
“The taskforce has been busy engaging with businesses to understand the risks in their sector and assess their compliance with the law,” Mr Thomas said.
“It’s identified worrying trends and indicators of suspicious activity, including transactions…
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