Australia Cracks Down On Crypto Atm Abuse With New Student Visa Data Rules To Combat Money Laundering

Published on October 17, 2025

Australia Targets Crypto ATM Abuse pinch New Student Visa Data Rules

Australia is stepping up its efforts to combat money laundering done crypto ATM by giving banks nan expertise to entree student visa status. This move is portion of a broader crackdown aimed astatine curbing forbidden activities linked to world students and nan increasing prevalence of crypto ATMs. The Australian authorities is focused connected preventing money laundering and organized crime facilitated by world students and crypto ATMs.

The state has seen an alarming emergence successful nan number of crypto ATMs, from conscionable 23 successful 2019 to astir 2,000 today. This surge successful crypto ATMs has sparked concerns owed to nan perceived deficiency of robust anti-money laundering (AML) and counter-terrorism financing (CFT) oversight successful immoderate crypto ATM operations. The Australian authorities is now taking action to reside these concerns pinch caller regulations targeting nan misuse of crypto ATMs.

Banks to Gain Access to Student Visa Information

Under caller migration regularisation changes projected by nan Australian government, banks will soon beryllium capable to verify nan visa position of world students. This alteration comes arsenic portion of an effort to place students who whitethorn beryllium progressive successful money laundering activities done crypto ATMs. By updating nan Visa Entitlement Verification Online (VEVO) system, nan authorities will alteration financial institutions to cheque whether world students person near Australia aliases are still domiciled successful nan country. This entree will thief banks place imaginable “mule accounts,” which are often utilized to facilitate money laundering.

Currently, financial institutions deficiency visibility into whether world students are still successful Australia aliases person returned to their location countries. By providing banks pinch entree to this important visa information, authorities purpose to trim nan exploitation of world students by criminals.

Surge successful Crypto ATMs and Criminal Activity

The accelerated description of crypto ATMs has raised siren among Australian authorities. These machines, which let users to bargain and waste cryptocurrencies, person been progressively linked to criminal activity. Authorities judge that crypto ATMs are often utilized by criminals to launder money, peculiarly by targeting susceptible individuals specified arsenic aged Australians.

A study from nan Australian Transaction Reports and Analysis Centre (AUSTRAC) highlighted that a important information of nan costs deposited into crypto ATMs are associated pinch scams and money mules. According to nan data, 85% of nan costs deposited by nan apical users of crypto ATMs were linked to fraudulent activities, underscoring nan standard of nan problem.

In consequence to these concerns, AUSTRAC has accrued its monitoring of crypto ATM activity. The agency is moving to amended understand nan risks posed by these machines and is preparing to return further regulatory action.

New Legislative Framework for Digital Asset Businesses

As portion of its broader efforts to reside money laundering and different forbidden activities, nan Australian authorities is group to present caller authorities to modulate integer plus businesses. This authorities will widen existing financial services laws and assistance AUSTRAC further powers to restrict aliases prohibit high-risk products, including crypto ATMs.

The caller regulatory model intends to supply a clearer and much effective system for overseeing nan quickly expanding integer plus sector. By giving AUSTRAC much power complete high-risk products, nan authorities hopes to trim nan risks associated pinch crypto ATMs and different integer plus services that whitethorn beryllium utilized for criminal activities.

Combating Student Visa Abuse successful Money Laundering

The Australian government’s caller measures will besides reside nan usage of world student accounts for money laundering. With galore world students unwittingly exploited by criminals, nan authorities is moving to guarantee that financial institutions tin amended place suspicious activities. By allowing banks to cheque nan visa position of world students progressive successful suspicious relationship activities, nan authorities hopes to forestall money laundering done student accounts.

These caller regulations travel arsenic portion of Australia’s ongoing efforts to fortify its financial systems and trim nan risks of money laundering, coercion financing, and different forbidden activities. By tackling nan exploitation of world students and expanding oversight of crypto ATMs, nan authorities intends to create a safer and much unafraid financial environment.

Future of Crypto ATM Regulation successful Australia

The Australian government’s crackdown connected crypto ATMs and money laundering reflects a broader inclination of expanding regularisation successful nan integer plus sector. As nan fame of cryptocurrencies and related technologies continues to grow, authorities are focused connected ensuring that these systems are not exploited for forbidden purposes.

With nan projected changes to nan VEVO strategy and nan upcoming authorities for integer plus businesses, Australia is taking important steps to tighten its oversight of crypto ATMs and forestall nan exploitation of world students for money laundering activities. These regulatory updates will not only thief combat criminal activity but will besides reenforce Australia’s committedness to maintaining a unafraid financial strategy successful nan look of quickly evolving technological advancements.