The Austrac, the Australian anti-flower guard dog, put the cryptographic atm suppliers in opinion not to comply with the required standards.
“The Austrac cryptocurrency working group has noted that some cryptographic automatic ticket offices may not have the right anti-white and fight against terrorism (AML / CTF),” the financial agency intelligence said on Monday.
Cryptographic automatic counter suppliers must register with the regulator, monitor transactions and complete your client checks to comply with the 2006 law of 2006 anti-money funding and the fight against terrorism (AML / CTF).
Australia has the greatest number of automatic crypto ticket distributors in the Asia-Pacific region, and the number is increasing. The nation has around 1,600 in use, compared to only 23 in 2019, said Austrac.
A working group set up in December “identified the worrying trends and suspicious activity indicators, including transactions that can be linked to scams or fraud,” said CEO Brendan Thomas.
The watchdog followed the traces of British regulators trying to repress illegal cryptographic ATM activity. In the United Kingdom, only ATMs approved by cryptography can work, and none of them have been. The Financial Conduct Authority last month obtained a four -year sentence against Olide Osunkoya, 46, for having illegally carried out an cryptographic ATM network.
