AUSTRAC Establishes Internal Cryptocurrency Task Force to Combat Money Laundering

Increasing Exploitation of Cryptocurrency for Financial Crimes

Australian Transaction Reports and Analysis Centre (AUSTRAC) Takes Action Against Non-Compliant Crypto ATM Providers

In response to the growing concerns of cryptocurrency being used for illicit activities such as money laundering, scams, and money mule operations, AUSTRAC has initiated an internal task force dedicated to monitoring and clamping down on non-compliant cryptocurrency ATM providers.

Commitment to Anti-Money Laundering Laws

Intensified Efforts to Combat Money Laundering, Scams, and Money Mule Activities

AUSTRAC’s latest analysis reveals a surge in the exploitation of cryptocurrencies for nefarious purposes, underscoring the agency’s commitment to enforcing anti-money laundering laws and safeguarding the financial ecosystem against illicit activities.