Overview

• Home Affairs Minister Tony Burke announced proposed amendments that would allow the AUSTRAC CEO to restrict or prohibit high‑risk products and delivery channels, including crypto ATMs.
• The government will change Visa Entitlement Verification Online terms so banks can check visa status when mule activity is suspected to help identify and close compromised accounts.
• AUSTRAC estimates 85% of transactions by the most frequent crypto‑ATM users come from scams or money‑mule activity, and about 99% of crypto‑ATM transactions are cash deposits.
• Authorities say criminals turn to crypto ATMs when blocked by banks or other platforms, prompting a focus on constraining cash‑based conversion points.
• Australia hosts about 2,006 crypto ATMs—concentrated in Sydney, Melbourne and Brisbane—with AUSTRAC’s taskforce already refusing or halting some provider registrations and introducing minimum standards in July.