NH Governor Celebrates Passage of Crypto Kiosk Restrictions Amid Fraud Concerns
New Hampshire Governor Kelly Ayotte and law enforcement officials celebrated the passage of Senate Bill 482, which imposes new restrictions on cryptocurrency kiosks. The bill aims to protect residents from widespread fraud associated with these machines.
Cryptocurrency kiosks, also known as ATMs, are often used by scammers to defraud victims of their cash. They move funds in a way that is immediate and nearly impossible to trace.
According to Detective Raymond Lamy, who investigates fraud for the Manchester Police Department, scams involving crypto ATM machines have increased significantly over the last several years. He stated that they are now one of the fastest-growing fraud threats against the senior population.
The Hampton Police Department has documented over $3 million in fraud related to crypto ATMs within the last few years. Chief Alex Reno said that very little of this money is typically recovered.