Tasmania’s law enforcement agencies are intensifying their scrutiny of cryptocurrency ATMs following the discovery that the most active users in the region have been victims of fraudulent schemes.
The operation is being spearheaded by the Australian Federal Police (AFP) in collaboration with AUSTRAC, the nation’s financial intelligence unit.
Tasmania’s involvement highlights how local jurisdictions are aligning with federal efforts to tighten oversight of crypto-related activities, particularly in response to the rising use of ATMs for illicit transactions.
Detective Sergeant Paul Turner of the Tasmania Police stated that in many cases, victims had originally attempted to send funds through traditional banking channels.
The repercussions can be severe, with many individuals reportedly forced to delay retirement, sell personal assets, or rely on social support systems due to the financial impact.
Turner advised the public to be wary of anyone instructing them to use a digital currency ATM, especially if the request is urgent or comes from someone they have never met in person.
Major ATM providers in the country include Localcoin with 807 units, Coinflip with 691, and Bitcoin Depot with 212, reflecting the scale and accessibility of these machines for both legitimate and illegitimate purposes.
Featured image created with DALL-E, Chart from TradingView
