Australia News

Australian Financial Watchdogs Back New Powers to Curb Money-Laundering Via Crypto

One area of concern is cryptocurrency ATMs, which have proliferated from 23 machines in 2019 to about 2,000 today.
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Australian Financial Watchdogs Back New Powers to Curb Money-Laundering Via Crypto
Illustration of Bitcoin and Ethereum coins held together in front of diverses EURO banknotes in Paris, France, on June 5, 2026. Joao Luiz Bulcao/Hans Lucas/AFP via Getty Images
Rex Widerstrom
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0:00

Australian crime-fighting and financial agencies are moving to prevent the use of cryptocurrency for money laundering, scams, and money-mule activities

The Australian Banking Association (ABA), Transparency International, and the regulator, AUSTRAC (Australian Transaction Reports and Analysis Centre), are backing a proposal to amend the Anti-Money Laundering and Counter-Terrorism Financing Act.

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Rex Widerstrom
Rex Widerstrom
Author
Rex Widerstrom is a New Zealand-based reporter with over 40 years of experience in media, including radio and print. He is currently a presenter for Hutt Radio.