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AAP

National

Adrian Black

UNCOVERED: Hammer falls on crypto atms over scams laundering | History Defined

Crypto AUSTRAC Australia

Australia has the third-most crypto ATMs in the world, behind the United States and Canada. (Joel Carrett/AAP PHOTOS)

Australian authorities are targeting cryptocurrency ATMs and tightening regulations amid reports of widespread scamming and money laundering.

Anti-money laundering regulator AUSTRAC has refused to renew a crypto ATM operator's licence and introduced transaction limited and tougher requirements to prevent cybercriminals from using the machines to extract money from victims.

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