Security
Australia fines Cryptolink $37K for failing at AML, CTF compliance
November 5, 2025
The Australian regulator AUSTRAC fined Cryptolink $37,000 for failing to comply with anti-money laundering and counter-terrorism financing regulations on its bitcoin ATMs. AUSTRAC's Crypto Taskforce discovered major issues with the Cryptlink's compliance systems, leading to this action, according to a report by Live Bitcoin News.
The taskforce discovered that Cryptolink didn't report large cash transactions fast enough and didn't put in place enough guardrails to prevent criminal activity. Cryptolink will have to appoint a third-party auditor to review its reporting accuracy and ensure its transactions meet all legal requirements. It has until March 2026 to submit a report on its progress.
Cryptolink paid the fine quickly, but AUSTRAC said it must also change its compliance guidelines.
"Criminals don't care if they hurt people; they care about making money," Brendan Thomas, CEO of AUSTRAC, said in the report. "We want to collaborate with digital currency exchanges and fortify the sector against exploitation. However, if operators fail to heed these warnings, we will be compelled to take further action."
In October 2025, Australia proposed a law to give AUSTRAC more authority to regulate crypto ATMs.
