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      AUSTRAC Cancels 45 Crypto and Remittance Registrations Amid Crackdown

      Australia's financial intelligence agency, AUSTRAC, has canceled, suspended, or refused to renew 45 registrations for remittance dealers and virtual asset service providers over the past year. This action, announced on September 7, 2026, is part of a broader effort to address issues related to scams, dormant businesses, and money-laundering risks within the financial sector.

      AUSTRAC CEO Brendan Thomas stated that entities stripped of their registrations lose their legal right to operate immediately, and individuals associated with these businesses may face personal legal repercussions. The agency's actions included the cancellation of BA Digital Ventures Pty Ltd's registration on June 4, 2026, following complaints linked to organized investment scams. This cancellation was described as a disruption measure rather than a mere compliance issue.

      Another significant action occurred on August 9, 2026, when AUSTRAC suspended the registration of Cryptolink Pty Ltd, resulting in the shutdown of 96 cryptocurrency ATMs across Australia. Additionally, AUSTRAC has initiated a separate investigation into Western Union, although specific findings from this inquiry have not been disclosed.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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