A 38-year-old male was arrester by Australian law enforcement for performing unregistered crypto transactions. The Cairnlea resident was arrested on Nov 12 as part of an investigation into unregistered cryptocurrency transactions.
The man is accused of violation of the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006 for providing an unregistered crypto exchange service and the Criminal Code Act 1995 for dealing with property suspected of being proceeds of crime.
The investigation was initiated by reports of scam activity linked to the ATM provided to the police by AUSTRAC.
During the arrest, law enforcement found a substantial quantity of cash and false identification documents, which were seized along with a cryptocurrency ATM from a shopping center in Braybrook.