Australia & Oceania Archives

$124M Crypto Laundering Scheme Exposed in Australia—Authorities Charge Four

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A long-running Australian multi-agency investigation has dismantled a sophisticated money laundering scheme in Queensland, charging four individuals and freezing $13.7 million. At the heart of the alleged operation was a security company that reportedly converted $124 million in cash into cryptocurrency to conceal illicit funds. Masterminds Convert Cash to Crypto in Bid to Hide Funds […]

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Crypto ATM Use by Seniors Raises Red Flags—AUSTRAC Tightens Rules

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Australia’s financial intelligence agency, AUSTRAC, is tightening regulations on crypto ATMs due to concerns over scams and fraud. New restrictions include cash deposit and withdrawal limits as well as mandatory scam warnings. ATM Scammers Target Senior Citizens Australia’s financial intelligence agency, AUSTRAC, is implementing stringent new measures for cryptocurrency ATM operators, including refusing to renew

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Australian Police Seize Hacker’s Bitcoin, Mansion and Luxury Car

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The Australian police recently seized 25 bitcoins, a luxury car, and a mansion in Beachmere from a man previously convicted of hacking an American gaming company. AFP Targets Illegal Profits of Hacker The Australian Federal Police (AFP) recently seized 25 bitcoins, a luxury car, and a mansion in Beachmere from a man previously convicted of

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AUSTRAC Fines Crypto Exchange Cointree for Reporting Failures

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The Australian Transaction Reports and Analysis Centre has issued infringement notices totaling $75,120 to cryptocurrency exchange Cointree for failing to submit suspicious matter reports on time. Cointree Fined Despite Self-Reporting The Australian financial intelligence agency, the Australian Transaction Reports and Analysis Centre (AUSTRAC), has issued infringement notices totaling $75,120 to cryptocurrency exchange Cointree for failing

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Finder Retreats From Crypto, Facilitates User Migration to Australian Exchange Swyftx

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Aussie fintech firm Finder has partnered with Swyftx to facilitate the migration of its users to the latter’s crypto exchange platform. Users Must Consent to the Migration of Wallet Balances Australian fintech company Finder has announced a partnership with Swyftx to facilitate the migration of its users to the latter crypto exchange’s platform. As per

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Use It or Lose It’: AUSTRAC Warns Inactive Crypto Exchanges

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AUSTRAC is cracking down on inactive digital asset exchanges, urging them to voluntarily withdraw their registrations or face forced cancellation to prevent criminal exploitation. Significant Proportion of 427 Registered Exchanges Inactive Australia’s AUSTRAC is taking decisive action against inactive digital asset exchanges, urging them to voluntarily withdraw their registrations or risk forced cancellation. The agency

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