The Australian Federal Police (AFP) has contacted over 90 individuals in a large-scale operation aimed at dismantling cryptocurrency ATM-related fraud activities. This campaign focuses on preventing the use of cryptocurrencies for illegal purposes, particularly sophisticated scams.
A notable case involves a 77-year-old widow who lost AUD 433,000 in an online dating scam. The victim was lured into investing in Bitcoin through fake documents, resulting in significant financial losses. Through the investigation, police identified 21 individuals connected to these scams. Among them, one person has been charged with money laundering, and four others received warnings for suspected use of cryptocurrency in illegal activities.
Currently, Australia has 1,871 cryptocurrency ATMs, ranking third in the world by number. In light of this situation, the Australian Transaction Reports and Analysis Centre (AUSTRAC) has issued new regulations to enhance oversight and prevent fraudulent activities. AUSTRAC also urges the public to be vigilant against enticing but fraudulent profit promises related to cryptocurrencies.
Related: Israel Arrests Iranian Spy Paid in Cryptocurrency
This campaign is part of ongoing efforts by authorities to protect citizens and ensure transparency in the digital finance sector.
