The Australian regulatory body AUSTRAC has established a working group to combat non-compliant cryptocurrency ATM providers

According to a post on the X platform by News.bitcoin, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has established a task force aimed at combating non-compliant cryptocurrency ATM providers in order to curb money laundering and fraud conducted through crypto ATMs. Australia has about 1,200 cryptocurrency ATMs, ranking third globally. It is reported that AUSTRAC also urges the public to report suspected fraudulent or scam activities.