The Australian National Financial Intelligence Agency has introduced modern operational principles and transaction limits for cryptographic ATM operators, he claims that the federal police states that fraud via kiosks is growing.

Australian transactions and analysis reports (Austrac) (Austrac) enforces the limit of 5000 Australian dollars (USD 3,250) of cash deposits and withdrawals at cryptographic ATMs, warning signs, more solid monitoring of transactions and increased obligations regarding the due diligence of customers, as she said in the press of the press on June 3 shared with the press release of the press CointeleleGraph.

Currently, limits apply only to ATM cryptographic suppliers; However, Austrac expects that the exchange of cryptocurrencies operating in Australia will “consider imposing similar limits if they accept cash on cryptographic transactions.”

Brendan Thomas, general director of Austrac, said that the modern rules are not set in stone, and “the effectiveness of these conditions” will remain during the review and if necessary will be corrected while the agency cooperates with law enforcement agencies and ATM suppliers to limit all suspicious actions.

“The conditions are aimed at protecting people from fraud, discouraging criminals from sending them to a cryptographic ATM, as well as protecting enterprises against crime,” he said.

“In the light of risk and damage, we consider it absolutely necessary to ensure that the sector will meet the minimum standards and reduce the improper use of cryptographic ATMs.”

The transfer was launched after a study conducted by the Austrac task group, examined data from nine ATM cryptographic providers and stated that most users are over 50 years ancient and accounts for almost 72% of all transactions at value.

The task group was created in September in September to investigate whether cryptographic ATMs had proper washing of washing and controlling terrorism counteracting.

“This is a huge problem that people in this demographic group are overrepatted as customers using cash to buy cryptocurrency and, as they suggest that a large number of users aged 60-70 are victims of fraud,” said Thomas.

According to Austrac, there are almost 150,000 cryptographic transactions at ATM, Australia, and about $ 275 million is transferred using cash to buy Bitcoin (BTC), Tether (USDT) and Ether (ETH), according to Austrac.

Millions lost only “ending of the iceberg” in cryptocurrency fraud

Australian Federal Police (AFP) he said On June 3, that the cybercrime reporting system in the country, Reportcyber, received 150 unique reports of fraud related to cryptographic ATMs between January 2024 and January 2025.

He added that total losses exceeded $ 3.1 million Australian dollars ($ 2 million), which he said “can only be the tip of the iceberg.”

Related: Australian financial guard to break down sleeping cryptography exchanges

The AFP commander, Graeme Marshall, said that many of them crazy by cryptographic ATMs do not realize that they are victims, I do not know how to report a fraud or “feel embarrassed because they have been cheated.”

“Fraudsters often use a sophisticated tactic to cause funds from victims. We encourage people to share their stories with family and friends to increase awareness and prevent other victims from being prevented,” he said.

Australia was a leisurely market of cryptographic ATMs, but adoption increased exponentially at the end of 2022 after private companies began to appear on the market.

The country is now the third largest cryptographic ATM center and advice data shows that Australia currently has 1819 ATMs, compared to 67 in August 2022.

Leading suppliers of cryptographic ATMs in Australia switch on Localcoin, with 753 in stable; Coinflip, with 700 ATMs; and the Bitcoin depot, from 182.

Warehouse: Luxurious, isolated and amazing beaches: Perth Crypto City Guide