The Australian Federal Police have contacted more than 90 people in a crackdown on the use of cryptocurrency ATMs for fraudulent activities.
A 77-year-old widow has been scammed out of 433,000 Australian dollars in an online dating fraud. She was encouraged by the scammer to invest in Bitcoin by showing her fake documents. Police have identified 21 individuals involved in the scams, with one person charged with money laundering and four others receiving warnings for suspected use of cryptocurrency for illegal purposes. Australia currently has 1,871 cryptocurrency ATMs, ranking third in the world. AUSTRAC has implemented new rules to combat fraud and warn the public about false promises related to cryptocurrency.
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