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flag Australia tightens crypto ATM rules due to scams, money laundering, and elderly targeting.

flag Australian authorities are implementing stricter regulations on cryptocurrency ATMs due to widespread scams and money laundering activities. flag AUSTRAC, the country's anti-money laundering regulator, has refused to renew a crypto ATM operator's license and introduced new measures like transaction limits and mandatory scam warnings. flag The Australian Federal Police reported over 150 scam cases in 2024, with losses exceeding $3.1 million, and suspect that these figures are underreported. flag Elderly individuals are often targeted by these scams.

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