Australia is cracking down on crypto ATMs amid a surge in scam reports! ๐จ The national financial intelligence agency, AUSTRAC, is enforcing stricter rules, including a $5,000 AUD limit on cash deposits/withdrawals. They're also pushing for better transaction monitoring and scam warning signs.
Why? Apparently, many users are over 50, and sadly, a lot are falling victim to scams. ๐ Federal police say reported losses from these scams have already topped $3.1 million AUD this year alone!๐คฏ
AUSTRAC is working with law enforcement to adjust these rules if needed. It's all about protecting people and businesses from crypto-related crime. ๐ค What do you think of this?
Follow for more insights!
