- Crypto ATM installations in Australia have surged from 73 in 2022 to over 1,200.
- 85% of funds from top crypto ATM users are linked to scams, with high-risk machines under scrutiny.
- AUSTRAC has launched a crypto task force to tackle illicit activity, with expanded powers to restrict high-risk products.
Australia’s government is taking action to curb the rapid rise of Bitcoin ATMs, which have become a growing concern for financial crimes watchdog AUSTRAC. With the rise in the number of these ATMs, so too has the increase in criminal activities, particularly scams and money laundering. Minister for Home Affairs Tony Burke recently outlined new powers for AUSTRAC to target high-risk crypto ATMs that facilitate illicit activities.
Surge in Crypto ATM Installations
According to a report by Capital Brief , the number of Bitcoin ATMs in Australia has soared in recent years. The number of machines in the country was only 73 in 2022. By August 2024, this had risen to at least 1,200 and it is reported that by the end of 2025, the figure may hit 2,000. These installations have also encouraged the issue of how easy it has become to use crypto ATMs to launder money or even to commit a scam by criminal groups.
The CEO of the AUSTRAC, Brendan Thomas, pointed out that the number of machines had increased at a rapid pace and has indicated that it only had 23 machines six years ago. This radical growth has led to a closer scrutiny by the regulators of the dangers presented by such machines.
Crypto ATMs a Target for Criminals
According to AUSTRAC, 85% of funds withdrawn from top crypto ATM users are connected to scams. While not all ATMs are used for illicit purposes, the regulator warns that certain machines are operating in high-risk areas that are difficult to trace. These machines make it easier for criminals to move funds across borders without detection.
Minister Burke stressed that AUSTRAC needs the power to restrict or even ban high-risk crypto products if necessary. This new measure is part of an ongoing effort to combat the increasing use of crypto ATMs by organized crime groups.
AUSTRAC’s Efforts to Combat Crypto-Related Crimes
In response to the increasing concerns, the AUSTRAC created a crypto task force last year. This team has already discovered a veil of secrets of fraud and shady transactions related to crypto ATMs. Some of the criminal activities in relation to these machines, which have been recognized by the agency, include money mule activity, targeting older Australians, and other various criminal activities.
The task force has already gone a long way, although it admits the need to do more. The new powers will enable the agency to further constrain or regulate the high-risk crypto products and discourage the general danger of money laundering in Australia.
The Australian government is focused on curbing the rise of crypto ATMs being exploited by criminals. With a growing number of machines and increasing criminal activity, AUSTRAC’s new powers are designed to ensure that these ATMs do not become safe havens for illicit operations. The crackdown is a key step in protecting the public from scams and money laundering, while ensuring that the cryptocurrency sector operates under stricter oversight.
