We are cracking down on cryptocurrency ATM providers who don’t comply with Australia’s anti-money laundering laws. These ATMs provide a quick and easy way to turn cash into cryptocurrency and this makes them a risk for criminal exploitation. Read more: https://lnkd.in/gBPQRE3N
AUSTRAC’s Post
More Relevant Posts
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🔥🔥 Digital Currency Exchange businesses offering services in Australia 🇦🇺 - #AUSTRAC are looking closer at your sector. When I say looking closer - they have task force created. This could mean AUSTRAC may come knocking = you need to have heightened awareness in place. It doesn't matter if you believe are 100% compliant. I would advise you at least have a plan to respond. If you don't then get one in place. Don't get caught out. This can help: https://lnkd.in/gMbAAM6E #aml #amlcompliance #financialcrime #amlcft #crypto
We are cracking down on cryptocurrency ATM providers who don’t comply with Australia’s anti-money laundering laws. These ATMs provide a quick and easy way to turn cash into cryptocurrency and this makes them a risk for criminal exploitation. Read more: https://lnkd.in/gBPQRE3N
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How exactly do they plan to collect taxes on crypto exchanges? When it comes to crypto transactions, you barely know the person you are transacting with. Unless they collaborate with service providers like Binance and OKX, crypto exchanges will be difficult to monitor and subsequently tax. Is this a wild goose chase?
Real-time Crypto Tracking: KRA plans to integrate its new system with cryptocurrency exchanges to monitor all transactions in real time, enhancing tax compliance in the digital asset space. Combatting Illicit Activity: The system will help KRA curb tax evasion and criminal activities such as fraud and money laundering, which have been prevalent in the largely unregulated cryptocurrency market. https://lnkd.in/eArSEykj
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Real-time Crypto Tracking: KRA plans to integrate its new system with cryptocurrency exchanges to monitor all transactions in real time, enhancing tax compliance in the digital asset space. Combatting Illicit Activity: The system will help KRA curb tax evasion and criminal activities such as fraud and money laundering, which have been prevalent in the largely unregulated cryptocurrency market. https://lnkd.in/eArSEykj
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🔗 Crypto Partnership Builder & Compliance Enthusiast @ Shift4 | Certified Cryptoasset Anti-Financial Crime Specialist (CCAS) | Certified Sanctions Specialist (CSS)
💡 Spotlight: New Chainalysis Money Laundering and Cryptocurrency Report provides a great breakdown of typologies for suspicious on-chain activity as part of their update on this year's trends and new techniques. 👀 Don't Miss This: Chainalysis highlights what compliance professionals in the crypto space need to watch out for: the use of consolidation wallets, suspiciously large fees using mixers, and payments made in rounded amounts. 🔍 Read more on typologies on p. 18. ✅ Check Out the Full Report: https://lnkd.in/ewemn82y #crypto #aml #finance #compliance
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Need a refresher on how to safeguard your accounts? We’ve got you covered.
In its most recent Consumer Protection Data Spotlight, the Federal Trade Commission reported that more than 46,000 Americans lost over $1 billion to cryptocurrency scams between January 2021 and March 2022. Cryptocurrency is open to higher risk for investment scams because cryptocurrency doesn’t have the same regulatory oversight as traditional investments. As fraudulent scam tactics become more sophisticated, awareness is key to protecting your funds from fraudulent operators. For some helpful tips and a list of DOs and DON’Ts regarding cryptocurrency scams, visit: https://bit.ly/3VpnEti
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Crypto scams can be elaborate and hard to detect – stay informed!
In its most recent Consumer Protection Data Spotlight, the Federal Trade Commission reported that more than 46,000 Americans lost over $1 billion to cryptocurrency scams between January 2021 and March 2022. Cryptocurrency is open to higher risk for investment scams because cryptocurrency doesn’t have the same regulatory oversight as traditional investments. As fraudulent scam tactics become more sophisticated, awareness is key to protecting your funds from fraudulent operators. For some helpful tips and a list of DOs and DON’Ts regarding cryptocurrency scams, visit: https://bit.ly/3VpnEti
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With the rise of cryptocurrency usage has come a wave of crypto scams, making it important to remain vigilant to prevent yourself from falling victim to any of these scams, including the quickly growing "Pig Butchering" scam. Learn more about the red flags to watch for, and steps you can take to keep yourself safe from this growing investment scam: https://bit.ly/3Wanp5D
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Brand, Marketing Communications, Public Relations, Digital Marketing ☆ Founder, Luxes Quotes Agency ☆ Aust Marketing Inst. (AMI) ☆ Copyright Agency Aus ☆ National Press Club Of Aus ☆ Member, ORCID USA ☆ ABN.15674654552
3wOPINION. I have been targetted on occasions by Crypto miners & hackers (during the Optus Data Breach) & have been issued a number of receipts for various Cryoto Currency purchased in my ID & Name by using my mobile phone's location & my ID & Microsoft email & Driver's Lic. Note: I have kept all copies of receipts that were emailed to me as crypto transactions (for Bitcoin Inc. Digital Currency). Most often, this gets translated to being scams in Australia, especially when they're not & due to the non-regulation of Digital Crypto Industry. As such, what really needs to be done & should happen is that all nations should essentially have a register for all Digital Currency Wallets & including their IDs (Mobile IP Data, an Individual's ID, ID Country of Origin etc) together with a tally of the total amount of Digital Currency, which is being held by any Wallet (ID) & worldwide. This way, Regulators in each country can have info. & accessibility to be able to investigate Data Breaches more transparently. I think this would be a step in the right direction to better assist Australians & stop Data Breaches & Hackings. Kind Regards Violeta Bec,Australia Cc: Australian Taxation Office ASIC Telstra Optus Singtel Samsung Mobile