The Australian money laundering regulator, Austrac, promulgated a series of measures so that cryptography atm suppliers tighten the scammers using the devices to attack the elderly.
Austrac is putting a limit of $ 5,000 in deposits and removal withdrawals of cryptographic ATM, which requires operators to improve due diligence obligations of their customers, include warnings of scammers and monitor transactions, said the Brendan Thomas CEO in a statement on Monday.
The answer follows the data that showed that ATMs were being used for fraud related to fraud, and that scammers were pointing to older members of the population. The regulator obtained data from nine cryptographic ATM suppliers that revealed cryptographic users over 50 who represented 72% of all transactions and from 60 to 70 years for 29% of transactions.
“It is a great concern that people in this demographic group are overrepresented as customers who use cash to buy cryptocurrencies and, as evidence suggests, that a large number of 60-70-year-old users are victims of scam activities,” said Thomas.
Australia has the largest number of cryptographic automatic ATMs in the Asia Pacific region, a number that is increasing. The nation has about 1,600 machines in use, compared to only 23 in 2019, Austrac said. Almost 150,000 transactions occur annually and $ 275 million are being moved using cryptographic automatic cashiers to buy Bitcoin mainly
USDT and ether ether, added the statement.
The regulator also said that he refused to renew the registration of Harro’s empires because he discovered that his crypto ATMs could be exploited.
Austrac has also been warning the suppliers of cryptographic automatic ATMs that are recorded with him and have correct money laundering checks.
