AUSTRAC pulls 45 crypto and remittance registrations in yearlong crackdown

Australia’s financial intelligence agency spent the past year quietly taking out the trash. AUSTRAC announced on September 7, 2026, that it had canceled, suspended, or refused to renew 45 registrations for remittance dealers and virtual asset service providers over the preceding 12 months, capping a sweep that ranged from routine housekeeping to outright enforcement action against businesses linked to investment fraud.

What actually happened

AUSTRAC CEO Brendan Thomas confirmed that entities stripped of their registrations lose the legal right to operate immediately. Some individuals connected to those businesses could also face personal legal consequences.

The reasons varied. Some businesses were dormant, some had gone insolvent, and others posed what AUSTRAC described as elevated risks of money laundering and terrorism financing.

The most prominent single action in the sweep was the cancellation of BA Digital Ventures Pty Ltd’s registration on June 4, 2026. BA Digital Ventures traded as GetCoins, and its removal followed customer complaints tied to organized investment scams. AUSTRAC framed the cancellation explicitly as a disruption measure, not just a compliance technicality.

A second notable action came on August 9, 2026, when AUSTRAC suspended the registration of Cryptolink Pty Ltd. That suspension shut down 96 crypto ATMs across Australia.

AUSTRAC also initiated a parallel investigation into Western Union, though the agency has not disclosed specific findings from that inquiry.

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