AUSTRAC Orders Cryptolink to Shut Down Crypto ATMs Amid AML Concerns

Australia's top financial crimes agency has ordered Cryptolink to shut down its 96 crypto ATMs across the country, citing ongoing concerns about the firm's compliance with anti-money laundering and counter-terrorism financing (AML/CTF) obligations.

The Australian Transaction Reports and Analysis Centre (AUSTRAC) began investigating Cryptolink in October 2025 after identifying alleged breaches of AML laws, including late reporting of threshold transactions and weaknesses in its AML/CTF risk assessments.

AUSTRAC CEO Brendan Thomas stated that the company failed to meet basic reporting obligations, particularly for threshold transaction reports, and was deemed 'too high-risk' to continue operating. The suspension took effect on August 9, and Cryptolink was also issued an AUD$56,340 (US$39,796) infringement notice.