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News Explorer — AUSTRAC Responds to Rise in Scams by Imposing Limits on Crypto ATM Transactions

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Jun 3, 5:27 am

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AUSTRAC Responds to Rise in Scams by Imposing Limits on Crypto ATM Transactions

AUSTRAC is taking action against crypto ATM operators in Australia due to scams targeting elderly users, with new regulations including capped transactions at $5,000 and enhanced customer due diligence. The sector has seen significant growth, with over 1,800 ATMs in operation today.

AUSTRAC is taking action against crypto ATM operators in Australia due to scams targeting elderly users, with new regulations including capped transactions at $5,000 and enhanced customer due diligence. The sector has seen significant growth, with over 1,800 ATMs in operation today.

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